The University of Chicago Magazine
At the turn of this century business wasn't academically respectable. Even though it was recognized that businessmen could be respectable citizens, business was held to be little more than the art of buying cheap and selling dear. "So wrote the late Paul Gray Hoffman, X'12, head of the Studebaker Corporation and a University of Chicago trustee. His words appeared in the University of Chicago Magazine in October 1948, just as the University's Graduate School of Business-then known as the School of Business-was marking its 50th birthday. In its first half-century-after a rocky start as an undergraduate college-the school had received its own budget, assembled a distinguished faculty, begun granting graduate degrees, started a scholarly journal, and established executive and downtown programs. Still, the status of business in higher education was far from secure.
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