I: Setting the stage. Why do costs keep rising at selective private colleges and universities. Who is in charge of the university ? -- II: Wealth and the quest for prestige. Endowment policies, development policies, and the color of money. Undergraduate and graduate program rankings. Admissions and financial aid policies -- III: The Primacy of science over economics. Why relative prices don't matter. Staying on the cutting edge in science -- IV: The faculty. Salaries. Tenure and the end of mandatory retirement -- V: Space. Deferred maintenance, space planning, and imperfect information. The costs of space -- VI: Academic and administrative issues. Internal transfer prices. Enrollment management. Information technology, libraries, and distance learning -- VII: The nonacademic infrastructure. Parking and transportation. Cooling systems -- VIII: Student life. Intercollegiate athletics and gender equity. Dining and housing -- IX: Conclusion. Looking to the future. A final thought.