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Symbolic Victories Can Have Real Material and Political Ramifications
The recent scandal at Harvard has not only damaged the reputation of the university and other Ivy League institutions, but it has also shifted status incentives for the elite and influenced the flow of money and influence. This symbolic victory carries real material and political ramifications, impacting high-growth sectors like finance, tax, and venture capital. While the bureaucratic world changes slowly, such symbolic victories can have deep and lasting effects.