Ivy League Economics

I’m currently reading “Chosen: The Hidden History of Admission and Exclusion at Harvard, Yale, and Princeton.” Like any good college book, it’s grounded in football.

It’s elementary that the term Ivy League originates from the sports league and was not an academic marker. What I didn’t know was that the coaches’ salaries were all ready out of control by the turn of the century. In 1905, Harvard’s football coach was making $7,000 a year (approximately $165,000 by today’s standards)—more than any of the professors.

The more things change, as they say...