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Say you're a Harvard professor and you decide to dabble a bit in politics. You decide to move back to Canada in hopes of becoming prime minister. Shouldn't be that hard. Before you go, you tell the school paper that if things don't work out, you'll probably return to Boston and pick up where you left off.

That would appear to have been Michael Ignatieff's plan, but things might not work out the way he was hoping. Harvard is going through some tough times. According to Boston magazine, its endowment, onces a porcine $37 billion, is down about $11 billion due to some unfortunate investment setbacks. And since it's not making any money, Harvard has to withdraw about $1.4 billion from capital to cover its operating costs, which would normally have been paid for out of profits. Which leaves a relatively paltry $24 billion left in the fund.

Not bad by most standards, but Harvard is used to big-time spending, without worrying much about where the money comes from. (Hey, that reminds me of a federal political party here in Canada. No wonder Ignatieff felt at home with the Liberals!)  It has big expenses, and $24 bil isn't going to cover them. In fact, says the magazine:

 While Harvard officials are doing their public-face best to downplay the problem, the numbers don't lie, and this economic crunch will leave the school a profoundly changed place. Harvard will have to become smaller and academically more modest, and as it does it will chafe at having grand plans without the resources to fund them. For the first time in decades, it will worry about merely paying its bills. The university will have to decide: If it is no longer so rich that it doesn't have to make choices, what does it really value? What are its priorities? It won't be a comfortable debate.

"We are in trouble," says one Crimson professor. In the aftermath of deep and damaging cuts, "there is a real chance that Harvard will no longer be considered the best there is."

Uh-oh. If things take a wrong turn in Ottawa, the Liberal leader might have to reconsider Plan B. It's just possible the old school won't be waiting with open arms, or without an open chequebook anyway. Maybe he'll have to stick around Ottawa longer. Maybe he'll have to teach at a Canadian university. Oh, the shame. Hey, maybe that's why he's so eager to make it easier to collect EI.

Kelly McParland
National Post

There are plenty of instances of misleading and otherwise bad stats being used by anti-piracy groups, like the recent BSA numbers from Canada that were basically made up. Now, a group from the UK is saying that piracy costs that country's economy tens of billions of pounds. It makes the same mistake as plenty of other studies before it: counting every instance of piracy, or perhaps even just the availability of copyrighted material on file-sharing networks, as a lost sale. It's fallacious to assume that every single person that downloads a piece of content, or simply has access to it for free, would pay for it if the free version wasn't available. Furthermore, any study like this that says an entire economy is being harmed by X amount of money because of piracy is pretty much bogus. This money that's supposedly being lost because of piracy isn't being lost by the economy, as undoubtedly it's being spent elsewhere. It's not being flushed down the toilet or turned into ether, it's just not ending up in content companies' bank accounts.

Carlo Longino is an expert at the Insight Community. To get insight and analysis from Carlo Longino and other experts on challenges your company faces, click here.

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