One possible explanation for tenure is that university departments
are to a large degree worker managed firms. One problem with a worker
managed firm is that the workers may spend their resources on
political rent seeking--trying to make sure they are in a dominant
coalition--rather than producing. Tenure lowers the stakes for
tenured faculty--and the tenured faculty are the voting body for at
least many of the important decisions. I can still try to politic to
make sure I get a raise and the people I don't like don't, but I
don't have to politic to keep my job and there is no point to
politicing to get tenured colleagues I don't like fired.
--
David Friedman
Professor of Law
Santa Clara University
[EMAIL PROTECTED]
http://www.daviddfriedman.com/
