The quality of public discourse and the ethical implications of divestment for universities as well as for corporations are discussed. Harvard's divestment of Exxon's stock is discussed and the question of whether Harvard should continue to accept Exxon's philanthropic grants is debated. (MLW)

The impact of the Tax Reform Act of 1986 on higher education is discussed. Background on the tax reform movement and the specific provisions of the 1986 law are examined. The law will reduce private donations, raise the cost of college, and raise the cost of operating institutions. (MLW)