The discussion isn't about university research money and whether that is spent productively, it's about endowments, which are nothing more than investment funds.
The question is whether it is productive to maintain large investment funds unrelated to their stated goals of education and research.
I think the OP would be happier if those endowments were drawn down on research with uncertain benefits rather than just invested in natural resource extraction companies.
The question is whether it is productive to maintain large investment funds unrelated to their stated goals of education and research.
I think the OP would be happier if those endowments were drawn down on research with uncertain benefits rather than just invested in natural resource extraction companies.