Economists drove and profited from the commercialization of universities

Evidence

Economists have theorized and promoted the benefits of the commercialization of knowledge; and in turn, universities have hired more economists for their expertise to both preach and effectuate this commercialization outside the standard compartmentalization of departmental organization. — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 587

Categorization

• XREF: Connects to the chapter’s broader thesis that neoliberalism’s thought collective insulated itself from 2008 — economics departments self-interestedly promoted their own centrality. — connects to: Unpublished academic research directly founded an investment firm’s strategy — Donald MacKenzie, An Engine, Not a Camera: How Financial…, 437; Academic findings directly spawned commercial investment products — Donald MacKenzie, An Engine, Not a Camera: How Financial…, 438; The finance industry funded the academic databases that made financial economics possible. — Donald MacKenzie, An Engine, Not a Camera: How Financial…, 1122 (+5 more)

Broader Connections

• University restructuring locked in economists’ institutional shelter from accountability #expands (0.82) — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 589
• Universities protect academic economists’ ethical autonomy more than they police it #complicates (0.78) — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 613
• America’s first elite scholarly institutions grew out of accumulated commercial capital. #corroborates (0.75)