Abstract

Professors' Pensions Go A-Glimmering

It is bad enough to be reminded from time to time that corporations are not supposed to have souls, but when a corporation that is not operated for profit calmly announces that it does not any longer propose to keep faith in the beneficent social enterprise in which it has long been engaged, the reminder seems to be rubbed to with peculiar harshness and brutality. When, in addition, it appears that the corporation in question has been run on a low plane of intelligence, and that policies which would have done discredit to an amateur in merchandising or finance have produced their natural fruit in virtual bankruptcy, the most sympathetic critic may well wonder whether the boasted efficiency of American business possesses, after all, the high virtues that have been claimed for it.