The U.S. is known for having both exceptional private business enterprises. It is the prime mover in creating the most powerful and bountiful economy in history and also for having great colleges and universities. Its schools dominate world college rankings and draw students from throughout the world.

Yet American universities are facing a dramatic decline in public support.

This is manifested in lower enrollments today than a dozen years ago and widespread threats to their funding, as both the Trump administration (via threats to revoke tax exemptions, reduced research support, etc.) and Congress pose what some college leaders deem existential threats to their very existence. Additionally, some state governments are beginning to sharply increase their intervention into the affairs of public universities that have historically exercised a great deal of independence.

A major reason corporations are faring far better than universities in today’s public policy milieu can be explained by one word: ownership. Everyone knows who owns and controls the operations of American companies, but who “owns” or........

© The Hill