Why the Left and the Right Hate Kenneth Griffin’s Huge Gift to Harvard

The news that Kenneth Griffin, a hedge fund billionaire, is donating a cool $300 million to Harvard University, where his name will adorn the entire Graduate School of Arts and Sciences, provoked the kind of pan-ideological revulsion that in our polarized times only the richest Ivy League schools still reliably inspire.

From the left came disgust not only at the wastefulness of the gift itself, so much money given to a hedge fund — sorry, hallowed seat of higher learning — with over $50 billion in resources already, but also at Harvard’s willingness to honor Griffin in particular. In addition to being an alumnus, class of 1989, he’s also a notable donor to the Republican Party, and lately to Ron DeSantis. To fulsomely praise a Republican-leaning plutocrat for his philanthropy and even affix his name to your institution, the civil rights lawyer Alec Karakatsanis tweeted, exposes the Ivy League’s pretensions to high-minded social concern as “a cruel charade for laundering generational wealth.”

From the right came the same disgust but in reverse, at the giver’s ideological betrayal rather than the school’s hypocrisy. Here was a Republican donor, with every cause in the world to choose from, giving an absolute fortune to, of all places, Harvard — the Kremlin on the Charles, the fons et origo of so many liberal follies, the central shrine in the academic-progressive cathedral. At best, you could describe Griffin as a sucker, a more extreme version of the many right-leaning donors who gripe about wokeness at their alma maters but keep on writing checks out of a misplaced sense of loyalty. At worst, his donation just shows that the right’s leading donors aren’t conservatives at all, that the party is ruled by big money that’s functionally liberal on every issue except the marginal tax rate.

Since I wrote a newsletter a few months back defending “ineffective altruism,” meaning the virtues of giving to eccentric and personal causes without careful cost-benefit analysis, I briefly looked for something to defend in Griffin’s gift. Maybe his donation would smooth the way for some personal passion project, endowing chairs in obscure economic subfields or setting up a center to study esoteric languages. Maybe he wanted Harvard to establish an intramural Calvinball association or build a Theosophist chapel in the Yard.

Alas, no: The gift basically funds Harvard qua Harvard, carrying coals to the Newcastle that is the school’s almost bottomless endowment, which even by ineffective-altruist standards seems indefensibly useless and pathetic. Even if Griffin’s interests were ruthlessly amoral and familial — all-but-guaranteed admission for all his descendants, say — the price was ridiculously inflated: The Harvard brand and network might be worth something to younger Griffins and Griffins yet unborn, but not at that absurd price. And if he’s seeking simple self-aggrandizement, he won’t gain it, since nobody except the chatbot in charge of generating official Harvard emails will ever refer to the “Kenneth C. Griffin Graduate School of Arts and Sciences.” (At least make them build you some weird pharaonic monument along the Charles, Ken!)

The sheer unimaginativeness makes Griffin’s gift a useful case study in one important ingredient in our society’s decadence: the absence of ambition or inventiveness among of our insanely wealthy overclass when it comes to institution building. There was a time when American plutocrats actually founded new institutions instead of just pouring money into old ones that don’t need the cash. And for the tycoon who admires that old ambition but thinks playing Leland Stanford is too arduous these days, there are plenty of existing schools that could be revived and reconfigured, made competitive and maybe great, with the money that now flows thoughtlessly into the biggest endowments. (...)

As for the ideological critiques of Griffin’s gift, they both capture key dilemmas facing our political coalitions. For the left, to imply that Harvard is functionally right-wing because it takes money from Republicans is wildly overstating things, but the truer observation is that progressivism’s self-image as a champion of the underdog is in deep tension with progressivism’s entrenchment as the official ideology of the highly educated upper classes, and Griffin’s largess is a condensed symbol of that tension.

by Ross Douthat, NY Times |  Read more:

Image: Alain Pilon