Is Harvard Worth Saving?

That’s the question The Wall Street Journal asked, ironically, on D-Day. The news outlet also asked “How?” but I’m setting that aside as irrelevant: Harvard doesn’t need saving, at least not financially.

Harvard has that $53+ billion endowment, with its annualized return on that endowment of roughly 11% over the last 50-ish years. The question proceeds from the false premise that it needs saving.

Harvard doesn’t need our taxpayer money. More than that, if it no longer gets our money, it’ll be free of government strictures on what it does with the money it receives—the school can do whatever it wants, politically and scholastically, including reforming itself and ridding itself of its institutional antisemitic behavior and ridding itself of those in its employ or student population who act overtly on their own antisemitic behavior, illegalities like seizing and occupying buildings, denying its owners their own property; vandalizing those buildings and others on campus; openly denying Jewish students access to their classes; overtly threatening Jewish students with violence and delivering that violence; and actively denying those who disagree with them their own rights to free speech. That’s the short subset of a very long list.

Or Harvard can choose to continue those bigotries, absent government funding and attached strings. With either choice, though, it cannot continue—must not be allowed to continue—the illegal behaviors in which so many of the school’s bigots openly engage. A school that chooses to continue those behaviors and to condone them among its population doesn’t deserve saving, even with its own money.

A Reason to Help the PRC

President Xi Jinping set a goal, which he called in typical PRC cutesy fashion, Healthy China 2030, to raise PRC citizenry life expectancy to 79 by 2030, a goal he achieved in 2016. He also wants to improve health care so that all mainland Chinese can live longer, healthier lives in their dotage.

This is a goal well worth us supporting the PRC on.

This is, after all, a nation with a fertility rate of 1.55, which compares with a replacement birth rate—the rate needed just to maintain a nation’s population at its current level, but not growing or shrinking—of 2.1.

This is a nation with a currently aging population, and that will continue to age due to that broadly inadequate fertility rate.

This is a nation with an elderly dependency rate—the ratio of the elderly population per 100 people of working age—of 20.7 and growing rapidly.

The is a nation with a potential support ratio—the number of working-age people for each elderly person—of 4.8 and shrinking rapidly, the inexorable effect of that very low fertility rate.

Helping the PRC to help its elderly to live longer and more healthily not only is a moral imperative, it’s a strategic political objective, too. The growing old folks population with its increasing longevity, coupled with that shrinking labor force, makes the aging population increasingly dependent on government handouts. That shrinking labor force, though, produces increasingly less output and so sends increasingly less revenue to government to redistribute to its aging population. It’s an open question whether automation and robots can maintain or increase production enough to produce the revenue needed for that redistribution.

We should be helping that population grow ever older, healthier, and longer-lived. That will speed the economic dislocation from that aging, and possibly push it into economic collapse. That’s an outcome for an enemy nation that wouldn’t be all bad for us.