Osler's Razor

Cruising through Brian Leiter's blog, I noticed the extraordinary story that Brandeis, a very good university, is selling all of its art. As endowments suffer, it is likely we will hear similar things at other places.

One complicating factor as a university sells off assets is that some of those assets were donated with the understanding that the university would keep the asset, not sell it. For example, when someone gives a piece of art to a University, they probably expect (and even stipulate) that it will be displayed at the University. In part, this extends their legacy, as the painting will be marked "donated by X." The money from a sale, of course, only honors dead presidents.