Re: Pricing of Journals

From: Bert Boyce <lsboyc[_at_]lsuvm.sncc.lsu.edu>
Date: Thu, 21 Jan 1999 15:19:08 -0600

On 1/20/99, Albert Henderson <noblestation[_at_]compuserve.com> wrote, in response to C. E. Petit:
>
> > > o Their combined endowments exceed $100 billion.
> >
> > COMMENT: So what?
>
> Is it not clear? They are HOARDING CASH! They have put financial
> surpluses above goals of research, education and public services.
> They are investing in financial markets at the expense of knowledge.
> Research universities' endowments (in constant dollars) doubled over
> the last nine years, faster than growth of research and far faster
> than growth of library spending. In spite of pleas from faculty
> Senates, administrators claim they can't afford decent libraries!

     While I am loath to get back into this journal availability discussion, this endowment business needs comment. Universities' endowments come from contributors who normally earmark the use of the earnings of their funds given. They are for scholarships, or to support certain departments operations, to fund Chairs and professorships, or even to support library acquisitions. Research generated dollars are not going into endowments, nor are general fund dollars. These are contributions used as the donor's wish. Sure we give them ideas on how their money can be used, and maybe we ought to make library acquisitions a higher priority, but to claim some hoarding of cash when the earnings of dedicated funds are spent as required by agreement with the donor is a misrepresentation of fact.

                                       BRB

Bert R. Boyce, Professor & Dean
School of Library & Information Science
Louisiana State University
267 Coates Hall
Baton Rouge, LA 70803

     (225)388-3158
FAX: (225)388-4581
LSBOYC[_at_]LSUVM.sncc.lsu.edu Received on Thu Jan 21 1999 - 21:19:57 GMT