Education: Best Faculty Money Can Buy?

No more lone stars at the University of Texas

For generations after its founding in 1881, the University of Texas at Austin seemed to have only one long-range game plan: its football program. As recently as 1975, a university committee evaluating academic standards concluded that U.T. was "not yet a university of the first class." But in recent years this sprawling, state-chartered institution, with 48,000 students, 2,100 faculty and 6,300 courses, has been playing a kind of academic catch-up game—raiding superstar talent from the faculties of such schools as Harvard and Princeton. Its weapon: a gusher of endowment money, fueled by oil...

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