Harvard’s Choice: Hedge Funds or Scholarships

Dean Baker:

The New York Times highlighted the findings of a remarkable study last week. The study, by Markov Processes International, examined the 10-year returns of the endowments of the 8 Ivy League schools. The study found that all 8 endowments had lower returns than a simple mix of 60 percent stock index funds and 40 percent bonds. In some cases, the gap was substantial. Harvard set the mark with its annual returns lagging a simple 60-40 portfolio by more than 3.0 percentage points.

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Andrew Sullivan: Putin’s First Year in the White House

Look first at Putin’s domestic goals. His core concern, as with any despot, is the legitimacy of his pseudo-democratic autocracy – which means, in turn, discrediting the very different features of the liberal democracies of the West. And in this, he must be scarcely able to believe his luck. After decades of the West’s championing of liberal democracy, the American president has spent his first year attacking it. Trump has exhibited contempt for a free press, describing the bulk of Western journalism as “fake news,” words that have gladdened the hearts of dictators across the planet. He has minimized Putin’s assassination of critical journalists, saying that America has no moral standing to criticize. He has treated the judiciary either as instruments of loyalty — hence his packing of the federal bench — or as pests to be slandered or dismissed. He prefers total loyalty from law-enforcement officials to the actual rule of law. For good measure, Trump has legitimized Putin’s core model of governance — that of a benevolent cult hero of the nation, shored up by religious reactionaries — by plagiarizing it. As for the other critical aspect of Putinism — the looting of the treasury by oligarchs — I give you the latest tax bill. It even carves out special goodies for real-estate investors.

Source: Andrew Sullivan: Putin’s First Year in the White House

Dairy Is Bad for Humans, Cows and the Planet: So Why Are Public Schools Required to Offer Milk With Every Meal?

It’s time to stop lining the pockets of the dairy industry at the expense of our children’s health. For all the government’s work to ensure that children are drinking more milk, where is the focus on ensuring that they eat enough fruits and vegetables—which actually do have protective effects against heart disease, diabetes and other chronic conditions? Most American children get only about a serving of vegetables and a serving of fruit per day, which are squeezed into their lunches by counting pizza and French fries as vegetables.

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