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has¡¡deliberately¡¡been¡¡induced¡¡by¡¡the¡¡offer¡¡of¡¡a¡¡fellowship



stipend¡¡to¡¡register£»¡¡for¡¡the¡¡time¡¡being£»¡¡as¡¡an¡¡academic¡¡graduate



student¡¡and¡¡as¡¡candidate¡¡for¡¡the¡¡academic¡¡doctor's¡¡degree¡£¡¡In¡¡the



instances¡¡that¡¡come¡¡to¡¡mind¡¡the¡¡students¡¡in¡¡question¡¡have¡¡since



completed¡¡their¡¡law¡¡studies¡¡and¡¡entered¡¡practice£»¡¡without¡¡further



troubling¡¡about¡¡the¡¡academic¡¡degree¡¡for¡¡which¡¡they¡¡once¡¡were



ostensible¡¡candidates¡£







CHAPTER¡¡IV







Academic¡¡Prestige¡¡and¡¡the¡¡Material¡¡Equipment







¡¡¡¡¡¡¡¡In¡¡the¡¡course¡¡of¡¡the¡¡preceding¡¡chapter¡¡it¡¡has¡¡appeared¡¡that



the¡¡introduction¡¡of¡¡business¡¡principles¡¡into¡¡university¡¡policy



has¡¡had¡¡the¡¡immediate¡¡and¡¡ubiquitous¡¡effect¡¡of¡¡greatly



heightening¡¡the¡¡directorate's¡¡solicitude¡¡for¡¡a¡¡due¡¡and¡¡creditable



publicity£»¡¡a¡¡convincing¡¡visible¡¡success£»¡¡a¡¡tactful¡¡and¡¡effectual



showing¡¡of¡¡efficiency¡¡reflected¡¡in¡¡an¡¡uninterrupted¡¡growth¡¡in



size¡¡and¡¡other¡¡tangible¡¡quantitative¡¡features¡£¡¡This¡¡is¡¡good



policy¡¡as¡¡seen¡¡from¡¡the¡¡point¡¡of¡¡view¡¡of¡¡competitive¡¡business



enterprise¡£¡¡In¡¡competitive¡¡business¡¡it¡¡is¡¡of¡¡the¡¡gravest



importance¡¡to¡¡keep¡¡up¡¡the¡¡concern's¡¡prestige£»¡¡or¡¡¡¨good¡¡will¡£¡¨¡¡A



business¡¡concern¡¡so¡¡placed¡¡must¡¡be¡¡possessed¡¡of¡¡such¡¡prestige¡¡as



will¡¡draw¡¡and¡¡hold¡¡a¡¡profitable¡¡traffic£»¡¡otherwise¡¡the¡¡enterprise



is¡¡in¡¡a¡¡precarious¡¡case¡£¡¡For¡¡the¡¡objective¡¡end¡¡and¡¡aim¡¡of



business¡¡enterprise¡¡is¡¡profitable¡¡sales£»¡¡or¡¡the¡¡equivalent¡¡of



such¡¡sales¡¡if¡¡the¡¡concern¡¡is¡¡not¡¡occupied¡¡with¡¡what¡¡would



strictly¡¡be¡¡called¡¡sales¡£¡¡The¡¡end¡¡sought¡¡is¡¡a¡¡net¡¡gain¡¡over



costs£»¡¡in¡¡effect£»¡¡to¡¡buy¡¡cheap¡¡and¡¡sell¡¡dear¡£¡¡The¡¡qualities¡¡that



count¡¡as¡¡of¡¡prime¡¡consequence¡¡in¡¡business¡¡enterprise£»¡¡therefore£»



particularly¡¡in¡¡such¡¡business¡¡enterprise¡¡as¡¡has¡¡to¡¡do¡¡with¡¡many



impressionable¡¡customers£»¡¡are¡¡the¡¡salesmanlike¡¡virtues¡¡of



effrontery¡¡and¡¡tact¡£¡¡These¡¡are¡¡high¡¡qualities¡¡in¡¡all¡¡business£»



because¡¡their¡¡due¡¡exercise¡¡is¡¡believed¡¡to¡¡bring¡¡a¡¡net¡¡return



above¡¡the¡¡cost¡¡of¡¡the¡¡goods¡¡to¡¡the¡¡seller£»¡¡and£»¡¡indeed£»¡¡above



their¡¡value¡¡to¡¡the¡¡buyer¡£¡¡Unless¡¡the¡¡man¡¡in¡¡competitive¡¡business



is¡¡able£»¡¡by¡¡force¡¡of¡¡these¡¡businesslike¡¡aptitudes£»¡¡to¡¡get



something¡¡more¡¡than¡¡he¡¡gives£»¡¡it¡¡is¡¡felt¡¡that¡¡he¡¡has¡¡fallen¡¡short



of¡¡the¡¡highest¡¡efficiency¡£¡¡So¡¡the¡¡efficient¡¡salesman£»¡¡and



similarly¡¡the¡¡efficiently¡¡managed¡¡business¡¡concern£»¡¡are¡¡enabled



to¡¡add¡¡to¡¡their¡¡marketable¡¡goods¡¡an¡¡immaterial¡¡increment¡¡of



¡¨prestige¡¡value£»¡¨¡¡as¡¡some¡¡of¡¡the¡¡economists¡¡are¡¡calling¡¡it¡£¡¡A



margin¡¡of¡¡prepossessions¡¡or¡¡illusions¡¡as¡¡to¡¡their¡¡superior£»¡¡but



intangible¡¡and¡¡inexpensive£»¡¡utility¡¡attaches¡¡to¡¡a¡¡given¡¡line¡¡of



goods¡¡because¡¡of¡¡the¡¡advertiser's¡¡or¡¡salesman's¡¡work£»¡¡¡¡work



spent¡¡not¡¡so¡¡much¡¡on¡¡the¡¡goods¡¡as¡¡on¡¡the¡¡customer's



sensibilities¡£



¡¡¡¡¡¡¡¡In¡¡case¡¡these¡¡illusions¡¡of¡¡superior¡¡worth¡¡are¡¡of¡¡an¡¡enduring



character£»¡¡they¡¡will¡¡add¡¡an¡¡increment¡¡of¡¡such¡¡intangible¡¡utility



also¡¡to¡¡goods¡¡or¡¡other¡¡marketable¡¡items¡¡subsequently¡¡to¡¡be



offered¡¡by¡¡the¡¡same¡¡concern£»¡¡and¡¡they¡¡can¡¡be¡¡added¡¡up¡¡as¡¡a



presumptive¡¡aggregate¡¡and¡¡capitalized¡¡as¡¡intangible¡¡assets¡¡of¡¡the



business¡¡concern¡¡in¡¡question¡£¡¡Such¡¡a¡¡body¡¡of¡¡accumulated¡¡and



marketable¡¡illusions¡¡constitute¡¡what¡¡is¡¡known¡¡as¡¡¡¨good¡­will£»¡¨¡¡in



the¡¡stricter¡¡sense¡¡of¡¡the¡¡term¡£¡¡The¡¡illusions¡¡in¡¡question¡¡need£»



of¡¡course£»¡¡not¡¡be¡¡delusions£»¡¡they¡¡may¡¡be¡¡well¡¡or¡¡ill¡¡founded£»¡¡for



the¡¡purpose¡¡in¡¡hand¡¡that¡¡is¡¡an¡¡idle¡¡question¡£



¡¡¡¡¡¡¡¡The¡¡most¡¡familiar¡¡and¡¡convincing¡¡illustrations¡¡of¡¡such¡¡good



will¡¡are¡¡probably¡¡those¡¡afforded¡¡by¡¡the¡¡sales¡¡of¡¡patent



medicines£»¡¡and¡¡similar¡¡proprietary¡¡articles¡¡of¡¡household



consumption£»¡¡but¡¡intangible¡¡values¡¡of¡¡a¡¡similar¡¡nature¡¡are



involved¡¡in¡¡nearly¡¡all¡¡competitive¡¡business¡£¡¡They¡¡are¡¡the¡¡product



of¡¡salesmanship£»¡¡not¡¡of¡¡workmanship£»¡¡and¡¡they¡¡are¡¡useful¡¡to¡¡the



seller£»¡¡not¡¡to¡¡the¡¡buyer¡£¡¡They¡¡are¡¡useful¡¡for¡¡purposes¡¡of



competitive¡¡gain¡¡to¡¡the¡¡businessman£»¡¡not¡¡for¡¡serviceability¡¡to



the¡¡community¡¡at¡¡large£»¡¡and¡¡their¡¡value¡¡to¡¡their¡¡possessor¡¡lies



in¡¡the¡¡differential¡¡advantage¡¡which¡¡they¡¡give¡¡to¡¡one¡¡seller¡¡as



against¡¡another¡£¡¡They¡¡have£»¡¡on¡¡the¡¡whole£»¡¡no¡¡aggregate¡¡value¡¡or



utility¡£¡¡From¡¡the¡¡point¡¡of¡¡view¡¡of¡¡the¡¡common¡¡good£»¡¡work¡¡and



expenditure¡¡so¡¡incurred¡¡for¡¡these¡¡competitive¡¡purposes¡¡are



bootless¡¡waste¡£







¡¡¡¡¡¡¡¡Under¡¡compulsion¡¡of¡¡such¡¡precedents£»¡¡drawn¡¡from¡¡the¡¡conduct



of¡¡competitive¡¡business£»¡¡publicity¡¡and¡¡¡¨goodwill¡¨¡¡have¡¡come¡¡to



take¡¡a¡¡foremost¡¡place¡¡in¡¡the¡¡solicitude¡¡of¡¡the¡¡academic



directorate¡£¡¡Not¡¡that¡¡this¡¡notoriety¡¡and¡¡prestige£»¡¡or¡¡the¡¡efforts



that¡¡go¡¡to¡¡their¡¡cultivation£»¡¡conduce¡¡in¡¡any¡¡appreciable¡¡degree



to¡¡any¡¡ostensible¡¡purpose¡¡avowed£»¡¡or¡¡avowable£»¡¡by¡¡any¡¡university¡£



These¡¡things£»¡¡that¡¡is¡¡to¡¡say£»¡¡rather¡¡hinder¡¡than¡¡help¡¡the¡¡cause



of¡¡learning£»¡¡in¡¡that¡¡they¡¡divert¡¡attention¡¡and¡¡effort¡¡from



scholarly¡¡workmanship¡¡to¡¡statistics¡¡and¡¡salesmanship¡£¡¡All¡¡that¡¡is



beyond¡¡cavil¡£¡¡The¡¡gain¡¡which¡¡so¡¡accrues¡¡to¡¡any¡¡university¡¡from



such¡¡an¡¡accession¡¡of¡¡popular¡¡illusions¡¡is¡¡a¡¡differential¡¡gain¡¡in



competition¡¡with¡¡rival¡¡seats¡¡of¡¡learning£»¡¡not¡¡a¡¡gain¡¡to¡¡the



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the¡¡ends¡¡of¡¡learning¡¡or¡¡for¡¡any¡¡other¡¡avowed¡¡or¡¡avowable¡¡end



sought¡¡by¡¡the¡¡universities¡£¡¡But¡¡as¡¡competitors¡¡for¡¡the¡¡good¡­will



of¡¡the¡¡unlettered¡¡patrons¡¡of¡¡learning¡¡the¡¡university¡¡directorates



are¡¡constrained¡¡to¡¡keep¡¡this¡¡need¡¡of¡¡a¡¡reputable¡¡notoriety



constantly¡¡in¡¡mind£»¡¡however¡¡little¡¡it¡¡may¡¡all¡¡appeal¡¡to¡¡their¡¡own



scholarly¡¡tastes¡£



¡¡¡¡¡¡¡¡It¡¡is¡¡in¡¡very¡¡large¡¡part£»¡¡if¡¡not¡¡chiefly£»¡¡as¡¡touches¡¡the



acquirement¡¡of¡¡prestige£»¡¡that¡¡the¡¡academic¡¡work¡¡and¡¡equipment¡¡are



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work¡¡and¡¡the¡¡equipment£»¡¡and¡¡that¡¡serves¡¡other¡¡purposes¡¡as¡¡well¡¡as



those¡¡of¡¡publicity£»¡¡so¡¡that¡¡¡¨business¡¡principles¡¨¡¡in¡¡academic



policy¡¡comes¡¡to¡¡mean£»¡¡chiefly£»¡¡the¡¡principles¡¡of¡¡reputable



publicity¡£¡¡It¡¡means¡¡this¡¡more¡¡frequently¡¡and¡¡more¡¡consistently



than¡¡anything¡¡else£»¡¡so¡¡far¡¡as¡¡regards¡¡the¡¡academic



administration£»¡¡as¡¡distinguished¡¡from¡¡the¡¡fiscal¡¡management¡¡of



the¡¡corporation¡£



¡¡¡¡¡¡¡¡Of¡¡course£»¡¡the¡¡standards£»¡¡ideals£»¡¡principles¡¡and¡¡procedure¡¡of



business¡¡traffic¡¡enter¡¡into¡¡the¡¡scheme¡¡of¡¡university¡¡policy¡¡in



other¡¡relations¡¡also£»¡¡as¡¡has¡¡already¡¡appeared¡¡and¡¡as¡¡will¡¡be



shown¡¡more¡¡at¡¡large¡¡presently£»¡¡but¡¡after¡¡all¡¡due¡¡qualification¡¡is



had£»¡¡it¡¡remains¡¡true¡¡that¡¡this¡¡business¡¡of¡¡publicity¡¡necessarily£»



or¡¡at¡¡least¡¡commonly£»¡¡accounts¡¡for¡¡a¡¡disproportionately¡¡large



share¡¡of¡¡the¡¡business¡¡to¡¡be¡¡taken¡¡care¡¡of¡¡in¡¡conducting¡¡a



university£»¡¡as¡¡contrasted¡¡with¡¡such¡¡an¡¡enterprise£»¡¡e¡£g¡££»¡¡as¡¡a



bank£»¡¡a¡¡steel¡¡works£»¡¡or¡¡a¡¡railway¡¡company£»¡¡on¡¡a¡¡capital¡¡of¡¡about



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common¡¡run¡¡of¡¡business¡¡concerns¡¡are¡¡occupied¡¡with¡¡industrial



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attention¡¡and¡¡effort¡¡centers£»¡¡and¡¡to¡¡which¡¡the¡¡management¡¡of¡¡the



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competitors¡¡in¡¡buying£»¡¡selling£»¡¡and¡¡effecting¡¡contracts¡¡of¡¡all



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sole¡¡ostensible¡¡interest¡¡and¡¡occupation£»¡¡and¡¡the¡¡pecuniary



transactions¡¡and¡¡arrangements¡¡which¡¡it¡¡enters¡¡into¡¡on¡¡the¡¡basis



of¡¡its¡¡accumulated¡¡prestige¡¡are¡¡a¡¡relatively¡¡very¡¡trivial¡¡matter¡£



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is¡¡designed¡¡to¡¡serve¡¡a¡¡pecuniary¡¡end¡¡it¡¡can¡¡only¡¡be¡¡useful¡¡in¡¡the



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lottery¡£



¡¡¡¡¡¡¡¡Outlay¡¡for¡¡the¡¡purpose¡¡of¡¡publicity¡¡is¡¡not¡¡confined¡¡to¡¡the



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elaborate¡¡and¡¡premeditated¡¡incidentals¡¡are£»¡¡perhaps£»¡¡here¡¡seen¡¡at



their¡¡best¡£¡¡To¡¡the¡¡laity¡¡a¡¡¡¨university¡¨¡¡has¡¡come¡¡to¡¡mean£»¡¡in¡¡the



first¡¡place¡¡and¡¡indispensably£»¡¡an¡¡aggregation¡¡of¡¡buildings¡¡and



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lay¡¡attention¡¡directly¡¡and¡¡convincingly£»¡¡while¡¡the¡¡pursuit¡¡of



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unseen£»¡¡and¡¡it¡¡stays¡¡in¡¡the¡¡background¡£¡¡Current¡¡expenditure¡¡for



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capital¡£¡¨£¨1*£©



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