Educators are striking at New Jersey’s state university, which has pumped $246 million from its endowment into high-fee hedge fund investments since 2020.
by Matthew Cunningham-Cook, The Lever
Rutgers University is refusing to pay some instructors living wages or give its faculty raises that would keep up with inflation — prompting the first-ever strike in the school’s history. At the same time, New Jersey’s state university has continued to plow ever-more funds from its endowment into high-fee investments that are performing poorly.
The Rutgers strike, which began Monday, is over basic issues like wages, job security, and the cost of university-owned housing. Currently 9,000 educators are taking part in the action. New Jersey Gov. Phil Murphy (D), who appoints members of Rutgers’ Board of Governors, is currently acting as mediator between unions and university management.
The episode underscores the critical role that university endowments are playing in subsidizing the lifestyles of some of the wealthiest people on the planet — at the cost of livable wages for the people who teach students.
The interest from university endowments is used to fund school operations, including educator salaries, as well as designated scholarships and faculty chairs.
Recent Posts
Does The House Have The Grit To ‘Block The Bombs’ To Israel?
Take Action Now Lawmakers returning from recess have a chance to do what their constituents are telling them to — stop US complicity in Gaza……
The Moral And Strategic Idiocy Of The DNC
Take Action Now At its meeting this week, the DNC opposed a ban on U.S. provision of offensive weapons to Israel.By Harold Meyerson, The American…
From Guernica to Gaza, Mass Killers Have Been Above It All
Take Action Now The Detached Cruelty of Air PowerBy Norman Solomon, Tom Dispatch Killing from the sky has long offered the sort of detachment that…
Sanders Will Rally With Maine Challenger To Susan Collins, Graham Platner
Take Action Now Platner condemned “endless wars” and backed universal health care in his campaign launch video.By Sharon Zhang, TruthOut Sen.…