quote:
Sherlock Hibbs, a wealthy Wall Street financier with ties to the University of Missouri, died in 2002. A fan of free market economics, the Austrian School, and Ludwig von Mises in particular, Hibbs specified in his will that $5 million would go to the university for the purposes of hiring "dedicated and articulate disciples" of this philosophy.

There was an interesting catch. If Mizzou failed to use the money to fund acolytes of Mises, the donation would instead go to Hillsdale College, a conservative institution in Michigan. Hibbs seemingly did not trust Mizzou to fulfill his terms and thus structured the gift so that an ideologically sympathetic college would have an incentive to hold the Mizzou accountable.

Hibbs was apparently right to worry. Hillsdale is now suing Mizzou, and alleges that the university willfully misspent the funds on faculty members who have nothing to do with either von Mises or Austrian economics.

LINK /

This post was edited on 7/19/19 at 8:10 pm

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Posted by Auburn80

Backwater, TN

Member since Nov 2017

8939 posts

Posted on 7/19/19 at 8:13 pm to RollTide4Ever

Interesting. George Mason University (where my son went) is in the middle of liberal Northern VA and they are completely Austrian school in their economics department.

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Posted by RollTide4Ever

Nashville

Member since Nov 2006

19216 posts

Posted on 7/19/19 at 8:15 pm to Auburn80

Walter Williams taught there for years and basically couldn't rely on support from the school's administration so he raised funding for the economics department himself. At one point, they had two noble prize winners there.

This post was edited on 7/19/19 at 8:39 pm

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Posted by scrooster