The Rise and Decline of a University

Bonnie Wilson and David E. Rapach ()
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David E. Rapach: Department of Economics, Saint Louis University

Working Papers from Saint Louis University, Department of Economics

Abstract: We examine the past rise and more recent decline of Saint Louis University (SLU) from the perspective of economic growth theory, which is commonly used to explain the rise and decline of nations. Consistent with neoclassical growth theory, we suggest that the simple accumulation of capital explains much of SLU's past rise. Over time, political power became increasingly concentrated among a relatively small group of elites led by the university President. In line with the New Institutional Economics, we argue that this concentration of power explains SLU's more recent decline. During the 2012{2013 academic year, this decline precipitated a critical juncture|a con uence of factors that emerge and provide an opportunity to overturn the status quo. Further drawing on growth theory, we discuss the challenges ahead and explore conditions under which SLU might expect this critical juncture to generate a brighter future.

Keywords: Saint Louis University; Economic growth theory; Capital accumulation; New Institutional Economics; Inclusive and extractive institutions; Critical juncture; Elites (search for similar items in EconPapers)
Date: 2015
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