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Bernard Madoff's financial fraud was global, an enormous amount of money was involved, and thousands of people and hundreds of institutions were swindled. Madoff's con game was a Ponzi scheme--an investment that pays returns to early investors from money acquired from subsequent investors.

This case study of the Madoff scheme looks at the effects of his crimes on the victims. Elements from a theoretical framework put forward by Erving Goffman provide a perspective for understanding the development and the aftermath of Madoff's con. For example, as Goffman would have put it, Madoff's...

"It is often said that the American academic, protected by tenure, is free to do pretty much as he or she pleases. Lewis argues that this freedom is largely an illusion. Faculty actions are greatly limited by governing boards and the academic administrators they appoint, who control institutional resources. Although ostensibly independent professionals, in many ways faculty have no more autonomy than most employees. Indeed, what power they have derives from faculty-student relationships. Lay governing boards ultimately control how money is spent and who spends it. This volume addresses...

Following in the tradition of Thorstein Veblen's Higher Learning in America, Lionel S. Lewis has amassed solid evidence to support his conclusions about what leads to success in Scaling the Ivory Tower. As background to his consideration of academic freedom, sexism, merit, tenure, and other such highly charged subjects, Lewis examines the attitudes of those in universities toward academic qualification. The modern rule of thumb has become publish or perish. According to Lewis, however, research and publication may not be such prime considerations after all.

Two...

In December 2008, Bernard L. Madoff was arrested for perpetrating a protracted Ponzi scheme of inconceivably huge proportions that defrauded clients of his securities company of nearly $20 billion and was consequently sentenced to 150 years in jail. How did Madoff pull this off for years, even returning some or all of clients' money when they asked, while in actuality was financing the lavish lifestyles of himself, his family, and his accomplices with the stolen funds? And why didn't anyone in the highly regulated investment industry catch on sooner?

Bernard Madoff and His...

In the American university system for most of this century, the academic reward system has been blamed for both the neglect of teaching and a glut of uninspiring research. The salaries for faculty at institutions that place special emphasis on teaching are lower than those for faculty at institutions where both teaching and research are expected. In Marginal Worth, Lionel S. Lewis examines the contemporary academic labor market to explain why teaching--which is almost universally acknowledged both off and on campus to be at the center of the American educational experience--is not...

At the time of its publication in 1923, Charles Homer Haskins' The Rise of Universities was considered remarkable for its erudition, succinctness, and balance. The his-torian Theodor Mommsen described it as "a work which has remained unsurpassed in the conciseness and vividness of its account." Eight decades after its appearance, it remains fresh and informative. It has not been surpassed, and is as invaluable as ever.

Haskins traces the rise of the mediaeval university as one phase of the intellectual awakening in Europe in the late Middle Ages, in an effort to broaden our...