> universities are maximizing something, but it's not clear what. > John Samples
Could it be that such universities seek to maximize prestige, or academic esteem? In the academic culture, publishing in "top" journals generates esteem, so that is what is sought. Secondarily, an academic reputation generates esteem among the public. Students then seek out such universities, not because the teaching is good, since it may not be, but because the prestige carries over to degrees and credentials. Thus, the original seed of good and useful research grows into a tree where the fruit becomes an end in itself and is perpetuated by cultural memes which are themselves the end. The question is whether the "top" economic journals do publish the most useful and innovative research and insights, or whether an academic culture has developed that self-perpetuates an illusion. Fred Foldvary ===== [EMAIL PROTECTED] __________________________________________________ Do You Yahoo!? Yahoo! - Official partner of 2002 FIFA World Cup http://fifaworldcup.yahoo.com
