Abstract: The financial crisis of 2008 left elite university endowments with 30% less value, leading these universities to respond with dramatic budgetary restructuring. While endowments had received probing national and Congressional attention in the months prior to the crisis, that attention...

"In public debate and academic writings the American and European welfare states are often portrayed as inhabiting completely different welfare regimes. However, if we take a closer look at the historical development of the European welfare state we find that American philanthropic bodies such...