The value of great leaders seems to be an unquestioned assumption. The goal of this Element is to explore the counterintuitive idea that great leaders can pose a hazard to themselves and their followers. Great leadership, which accomplishes morally commendable and difficult objectives by leaders...

Physical capital represents an important input to the production of higher education--the essential services of buildings, equipment, and land--for which we have only highly inadequate measures. This paper has three objectives: to report estimates of the value of the capital stocks used by 3,148...