Lingyu wrote:It's called fuzzy math.
Of course. It's much more complex than that. There are endowments, alumni donations, profit-earning patents, etc. Theoretically, Professor HawkHead is not only a popular instructor who even draws high-tuition-paying students from out-of-state (including from foreign countries), but he keeps a highly popular blog - say, the most widely-read blog in the state of Wisconsin. Well-educated alumni of his school who are now wealthy millionaires read and appreciate daily the way he represents the high standards of scholarship and the independent critical thinking promoted at their alma mater. They like the way he is not a communist or a socialist or an anti-American. In fact, oddly enough, many of them even appreciate the fact that he voted for Barack Obama.
So they write checks to the Wisconsin School of Business at the UW just to show their appreciation.
It's really quite a racket, huh?