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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
republic¡¡of¡¡learning¡¡or¡¡to¡¡the¡¡academic¡¡community¡¡at¡¡large£»¡¡and
it¡¡is¡¡a¡¡gain¡¡in¡¡marketable¡¡illusions£»¡¡not¡¡in¡¡serviceability¡¡for
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
amenable¡¡to¡¡business¡¡principles£»¡¡¡¡not¡¡overlooking¡¡the¡¡pervasive
system¡¡of¡¡standardization¡¡and¡¡accountancy¡¡that¡¡affects¡¡both¡¡the
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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
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shown¡¡more¡¡at¡¡large¡¡presently£»¡¡but¡¡after¡¡all¡¡due¡¡qualification¡¡is
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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
the¡¡same¡¡volume¡£¡¡This¡¡follows¡¡from¡¡the¡¡nature¡¡of¡¡the¡¡case¡£¡¡The
common¡¡run¡¡of¡¡business¡¡concerns¡¡are¡¡occupied¡¡with¡¡industrial
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attention¡¡and¡¡effort¡¡centers£»¡¡and¡¡to¡¡which¡¡the¡¡management¡¡of¡¡the
concern¡¡constantly¡¡looks¡£¡¡Such¡¡concerns¡¡have¡¡to¡¡meet¡¡their
competitors¡¡in¡¡buying£»¡¡selling£»¡¡and¡¡effecting¡¡contracts¡¡of¡¡all
kinds£»¡¡from¡¡which¡¡their¡¡gains¡¡are¡¡to¡¡come¡£¡¡A¡¡university£»¡¡on¡¡the
other¡¡hand£»¡¡can¡¡look¡¡to¡¡no¡¡such¡¡gains¡¡in¡¡the¡¡work¡¡which¡¡is¡¡its
sole¡¡ostensible¡¡interest¡¡and¡¡occupation£»¡¡and¡¡the¡¡pecuniary
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There¡¡is£»¡¡in¡¡short£»¡¡no¡¡appreciable¡¡pecuniary¡¡gain¡¡to¡¡be¡¡looked
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therefore¡¡there¡¡is¡¡no¡¡relation¡¡of¡¡equivalence¡¡or¡¡discrepancy
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result¡¡that¡¡the¡¡academic¡¡directorate¡¡applies¡¡itself¡¡to¡¡this
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enterprise£»¡¡offering¡¡a¡¡suggestive¡¡parallel¡¡to¡¡the¡¡drawings¡¡of¡¡a
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
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newspapers¡¡and¡¡the¡¡circular¡¡literature¡¡that¡¡issues¡¡from¡¡the
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unseen£»¡¡and¡¡it¡¡stays¡¡in¡¡the¡¡background¡£¡¡Current¡¡expenditure¡¡for
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¡¡¡¡¡¡¡¡Indeed£»¡¡instances¡¡might¡¡be¡¡cited¡¡where¡¡funds¡¡that¡¡were¡¡much
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th