Founders of the Academy on Capitalism and Limited Government Fund and UI officials announced Monday they would terminate an agreement that created the academy fund and that would have provided money for teaching and research on capitalism and limited government.
"Despite the good intentions of the donors and the university, there were structural incompatibilities between the fund's operational mode and that of the university," said Chancellor Richard Herman in a statement released Monday morning.
The fund instead will become a non-profit foundation separate from the university. It will still offer grants to support programs and research.
"This academy will be an independent, off-campus corporation which will undertake its grant activities in the same fashion as the numerous other foundations which already provide support to the University of Illinois," according to a statement released by the group's advisory board.
UI Separates From Academy on Capitalism
Posted October 6th, 2008 at 01:55 PM by IlliniPundit
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Why unsurprising?
Because the academic resistance to it was clear from the moment it was announced, and because the UI administration clearly put so little thought into how the Academy would be structured and function.
Were you surprised it was scrapped?
Yes, I'm shocked. I suspect the Chancellor didn't want it; otherwise, the relationship would have continued. Despite what you might think, faculty have virtually no power and little influence regarding these type of things.