It seems that every day recently, the headlines literally scream economic meltdown. I’ve lived a bit more than half a century (I distinctly remember growing up in the 1960’s) and I have to say the recent crisis is unparalleled in my own experience–distinct in its rate of daily change from the economic “malaise” of the late 1970’s.
In that environment, it’s inevitable that the world-wide storm would have effects on this small jewel of an institute for advanced study. And that is certainly the case–as an academic of one of the largest public universities in the Washington D.C. area, we are to some extent dependent upon the generosity of the Virginia taxpayer. But it’s also true that as an academic unit inside a large public university we are to some extent protected from the economic tsunami in a way that our stand-alone sister institutions are not. There is a certain strength that comes from being part of a commonwealth (lower case c intended).
The other positive note that I would think useful is how diversified our sponsored-research portfolio really is. The Institute receives support from multiple federal agencies, international organizations and private sector entities. And I believe, we do excellent science–I would argue that even in the worst of times, the really excellent science will be funded.
On the other hand, we are dealing with real cuts and we expect to see more contraction soon. That is the reality of our current interesting times. I am particularly grateful to our Advisory Board under the current conditions–their continued financial support is more important than ever.
Jim
Discoverers and Discoveries 