Private universities and private colleges are higher education institutions not operated, owned, or institutionally funded by governments . However, they often receive tax breaks , public student loans, and government grants. Depending on the country, private universities may be subject to government regulations. Private universities may be contrasted with public universities and national universities which are either operated, owned and or institutionally funded by governments. Additionally, many private universities operate as nonprofit organizations .
181-783: The University of Chicago ( UChicago , Chicago , U of C , or UChi ) is a private research university in Chicago, Illinois , United States. Its main campus is in the Hyde Park neighborhood on Chicago's South Side , near the shore of Lake Michigan about 7 miles (11 km) from the Loop . The university is composed of the undergraduate College of the University of Chicago and four graduate research divisions: Biological Science, Humanities, Physical Science, and Social Science, which also include various organized institutes. In addition,
362-667: A 15-day sit-in at the college's administration building in a protest over the university's segregationist off-campus rental policies. After continued turmoil, a university committee in 1967 issued what became known as the Kalven Report. The report, a two-page statement of the university's policy in "social and political action," declared that "To perform its mission in the society, a university must sustain an extraordinary environment of freedom of inquiry and maintain an independence from political fashions, passions, and pressures." The report has since been used to justify decisions such as
543-583: A 60% increase since the establishment of HEC in 2002. The HEC digital library now provides access to over 20,000 leading research journals, covering about 75% of the world's peer-reviewed scientific journals. Until 1991, there were only two recognized private universities in Pakistan: Aga Khan University , established in 1983, and Lahore University of Management Sciences , established in 1985. By 1997, there were 10 private universities. From 2001–2002, this number had doubled to 20. Among
724-608: A central figure in the city's business community. He bought a residence in 1884 on 54th Street near the mansions of other magnates such as William Henry Vanderbilt . Despite personal threats and constant pleas for charity, Rockefeller took the new elevated train to his downtown office daily. In 1887, Congress created the Interstate Commerce Commission which was tasked with enforcing equal rates for all railroad freight, but by then Standard depended more on pipeline transport. More threatening to Standard's power
905-459: A collision with steel magnate Andrew Carnegie , and their competition became a major subject of the newspapers and cartoonists. He went on a massive buying spree acquiring leases for crude oil production in Ohio, Indiana, and West Virginia, as the original Pennsylvania oil fields began to play out. Amid the frenetic expansion, Rockefeller began to think of retirement. The daily management of the trust
1086-515: A conservationist. Great-grandson John Davison "Jay" Rockefeller IV served from 1985 until 2015 as a Democratic Senator from West Virginia after serving as governor of West Virginia, and another Winthrop served as lieutenant governor of Arkansas for a decade. John D. Rockefeller was born in Richford, New York , then part of the Burned-over district , a New York state region that became
1267-480: A copy of every book and journal published by the University of Chicago Press at no cost. The agreement provided that either party could terminate the affiliation on proper notice. Several University of Chicago professors disliked the program, as it involved uncompensated additional labor on their part, and they believed it cheapened the academic reputation of the university. The program was ended by 1910. In 1929,
1448-402: A decent offer. If they refused his offer, he told them he would run them into bankruptcy and then cheaply buy up their assets at auction. However, he did not intend to eliminate competition entirely. In fact, his partner Pratt said of that accusation "Competitors we must have ... If we absorb them, it surely will bring up another." Instead of wanting to eliminate them, Rockefeller saw himself as
1629-631: A degree on any graduating senior from an affiliated school who made a grade of A for all four years, and on any other graduate who took twelve weeks additional study at the University of Chicago. A student or faculty member of an affiliated school was entitled to free tuition at the University of Chicago, and Chicago students were eligible to attend an affiliated school on the same terms and receive credit for their work. The University of Chicago also agreed to provide affiliated schools with books and scientific apparatus and supplies at cost; special instructors and lecturers without cost except for travel expenses; and
1810-635: A distinction between free institutions (as in free from the State), which are recognized and funded by the Communities of Belgium (the State until 1990) and follow the same rules and laws as fully public universities, and fully private institutions, which are not recognized nor funded by the authorities, and thus do not issue valid degrees. Private ( free ) institutions are predominantly Catholic: UCLouvain , KU Leuven or Saint-Louis University, Brussels . On
1991-409: A firestorm of protest from independent oil well owners, including boycotts and vandalism, which led to the discovery of Standard Oil's part in the deal. A major New York refiner, Charles Pratt and Company , headed by Charles Pratt and Henry H. Rogers , led the opposition to this plan, and railroads soon backed off. Pennsylvania revoked the cartel's charter, and non-preferential rates were restored for
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#17327798905462172-578: A fortune worth nearly 2% of the national economy. His personal wealth was estimated in 1913 at $ 900 million, which was almost 3% of the US gross domestic product (GDP) of $ 39.1 billion that year. Rockefeller spent much of the last 40 years of his life in retirement at Kykuit , his estate in Westchester County, New York, defining the structure of modern philanthropy, along with other key industrialists such as Andrew Carnegie . His fortune
2353-467: A grand reading room for the university library and prevents the need for an off-campus book depository. The site of Chicago Pile-1 is a National Historic Landmark and is marked by the Henry Moore sculpture Nuclear Energy . Robie House , a Frank Lloyd Wright building acquired by the university in 1963, is a UNESCO World Heritage Site as well as a National Historic Landmark, as is room 405 of
2534-656: A great university should maintain the study of faith as a central focus. To fulfill this commitment, he brought the Baptist seminary that had begun as an independent school "alongside" the Old University of Chicago and separated from the old school decades earlier to Morgan Park. This became the Divinity School in 1891, the first professional school at the University of Chicago. Harper recruited acclaimed Yale baseball and football player Amos Alonzo Stagg from
2715-406: A huge backlash against the company, Tarbell stated she was surprised at its magnitude. "I never had an animus against their size and wealth, never objected to their corporate form. I was willing that they should combine and grow as big and wealthy as they could, but only by legitimate means. But they had never played fair, and that ruined their greatness for me." Tarbell's father had been driven out of
2896-400: A large business is merely a survival of the fittest." Rockefeller was the second of six children born in Richford, New York , to con artist William A. Rockefeller Sr. and Eliza Davison. Rockefeller had an elder sister named Lucy and four younger siblings: William Jr. , Mary, and fraternal twins Franklin (Frank) and Frances. His father was of English and German descent, while his mother
3077-532: A large study space and an automated book storage and retrieval system. The John Crerar Library contains more than 1.4 million volumes in the biological, medical and physical sciences and collections in general science and the philosophy and history of science, medicine, and technology. The university also operates a number of special libraries, including the D'Angelo Law Library, the Social Service Administration Library, and
3258-632: A location on the University of Chicago campus. Since 1983, the University of Chicago has maintained the University of Chicago School Mathematics Project , a mathematics program used in urban primary and secondary schools. The university runs a program called the Council on Advanced Studies in the Humanities and Social Sciences, which administers interdisciplinary workshops to provide a forum for graduate students, faculty, and visiting scholars to present scholarly work in progress. The university also operates
3439-521: A major role in the development of many academic disciplines, including economics, law, literary criticism, mathematics, physics, religion, sociology, and political science, establishing the Chicago schools of thought in various fields. Chicago's Metallurgical Laboratory produced the world's first human-made, self-sustaining nuclear reaction in Chicago Pile-1 beneath the viewing stands of the university's Stagg Field . Advances in chemistry led to
3620-584: A million dollars in business) and $ 17,000 worth of profit, respectively, and their profits soared with the outbreak of the American Civil War when the Union Army called for massive amounts of food and supplies. During the second year of the American Civil War , Gardner withdrew from the business, and the firm became Clark & Rockefeller. When the Civil War was nearing a close and with
3801-463: A month. His final year provided him $ 58 a month. As a youth, Rockefeller reportedly said that his two great ambitions were to make $ 100,000 (equivalent to $ 3.27 million in 2023 dollars) and to live 100 years. In 1859, Rockefeller went into the produce commission business with two partners, Maurice B. Clark and George W. Gardner , under Clark, Gardner & Company, and they raised $ 4,000 ($ 135,644 in 2023 dollars) in capital. Clark initiated
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#17327798905463982-609: A nearby particle physics laboratory, as well as a stake in the Apache Point Observatory in Sunspot, New Mexico . Faculty and students at the adjacent Toyota Technological Institute at Chicago collaborate with the university. In 2013, the university formed an affiliation with the formerly independent Marine Biological Laboratory in Woods Hole, Mass. The National Opinion Research Center maintains an office at
4163-634: A new school could go by the name of the city. In 1890, the American Baptist Education Society incorporated a new University of Chicago as a coeducational institution, using $ 400,000 donated to the ABES to supplement a $ 600,000 donation from Standard Oil co-founder John D. Rockefeller , and land donated by Marshall Field . While the Rockefeller donation provided money for academic operations and long-term endowment, it
4344-459: A partner, and the firm of Rockefeller, Andrews & Flagler was established. By 1868, with Rockefeller continuing practices of borrowing and reinvesting profits, controlling costs, and using refineries' waste, the company owned two Cleveland refineries and a marketing subsidiary in New York ; it was the largest oil refinery in the world. Rockefeller, Andrews & Flagler was the predecessor of
4525-759: A possible career. In September 1855, when Rockefeller was sixteen, he got his first job as an assistant bookkeeper working for a small produce commission firm in Cleveland called Hewitt & Tuttle. He worked long hours and delighted, as he later recalled, in "all the methods and systems of the office." He was particularly adept at calculating transportation costs, which served him well later in his career. Much of Rockefeller's duties involved negotiating with barge canal owners, ship captains, and freight agents. In these negotiations, he learned that posted transportation rates that were believed to be fixed could be altered depending on conditions and timing of freight and through
4706-535: A principal stockholder of the Denver and Rio Grande, for a loan. Gould, via Frederick Taylor Gates , Rockefeller's financial adviser, brought John D. Rockefeller in to help finance the loan. Analysis of the company's operations by John D. Rockefeller Jr. showed a need for substantially more funds which were provided in exchange for acquisition of CF&I's subsidiaries such as the Colorado and Wyoming Railway Company,
4887-765: A private institution to be called " université ", and most of the universities in France are public. In France, grandes écoles are part of an alternative educational system that operates alongside the mainstream French public university system . Grandes écoles can be public , semi-private or private, but the most prestigious ones are public. These institutions operate mostly in engineering studies and business administration. The best-known semi-private grandes écoles are generally business, engineering, and humanities schools; they are generally managed by chambers of commerce and industry, with capital open to other private companies. Other grandes écoles are entirely private, but this
5068-521: A reference to the fire and foreclosure of the Old University of Chicago. A single stone from the rubble of the original Douglas Hall on 34th Place was set into the wall of the Classics Building. The dean of the college and University of Chicago and professor of history John Boyer has argued that the University of Chicago has "a plausible genealogy as a pre–Civil War institution". Alumni from the Old University of Chicago are recognized as alumni of
5249-461: A requirement for all foreign institutions endeavoring to operate businesses in the country. Almost all the private universities in Ghana focus on similar areas of academic study, including business administration, human resources, accounting, information technology, and related fields, which are offered by universities like Ashesi , Regent , Valley View , and Ghana Telecom , among others. In addition,
5430-539: A result, Rockefeller and his associates owned dozens of separate corporations, each of which operated in just one state; the management of the whole enterprise was rather unwieldy. In 1882, Rockefeller's lawyers created an innovative form of corporation to centralize their holdings, giving birth to the Standard Oil Trust. The " trust " was a corporation of corporations, and the entity's size and wealth drew much attention. Nine trustees, including Rockefeller, ran
5611-513: A son together. He was a faithful congregant of the Erie Street Baptist Mission Church, taught Sunday school, and served as a trustee, clerk, and occasional janitor. Religion was a guiding force throughout his life, and he believed it to be the source of his success. Rockefeller was also considered a supporter of capitalism based on a perspective of social Darwinism , and he was quoted often as saying, "The growth of
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5792-413: A ten-week business course at Folsom's Commercial College , where he studied bookkeeping. Rockefeller was a well-behaved, serious, and studious boy despite his father's absences and frequent family moves. His contemporaries described him as reserved, earnest, religious, methodical, and discreet. He was an excellent debater and expressed himself precisely. He also had a deep love of music and dreamed of it as
5973-411: Is Katherine Baicker since March 2023. The current president of the University of Chicago is chemist Paul Alivisatos , who assumed the role on September 1, 2021. Robert Zimmer , the previous president, transitioned into the new role of chancellor of the university. The university's endowment was the 12th largest among American educational institutions and state university systems in 2013 and as of 2020
6154-1065: Is due to the form of testing in schools in Taiwan, in which students take a national entrance exam to determine their university qualifications. The most well known private university is Fu Jen Catholic University , and the oldest is Tunghai University . Since the 1990s, several private universities have opened in Vietnam including Ho Chi Minh City Open University being one of the first. Some characteristics of Vietnamese private universities as of 2010 are high (very high in some cases) tuition fees, poor infrastructure, limited faculty, and human resources. Private universities are often named after scholars ( Fulbright University Vietnam, Vo Truong Toan University, Nguyen Trai University, Luong The Vinh University, Chu Van An University, Yersin University, Phan Chau Trinh University), or heroes/legends ( Hung Vuong University, Quang Trung University); although there are exceptions such as FPT University , named after
6335-540: Is home to several private universities, including Sohar University , the University of Nizwa , Middle East College , and the German University of Technology in Oman . These universities offer a range of undergraduate, graduate, and professional programs in fields such as business, engineering, and information technology. Private universities in Oman offer a more personalized and interactive learning experience, as
6516-731: Is one private university in Madaba city, the American University of Madaba (AUM) . There are 11 private universities and colleges in Kuwait . There are 19 private universities in Lebanon. Among these, the American University of Beirut and the Lebanese American University are internationally acknowledged. The languages used for teaching in private universities are mainly French and English ; Arabic
6697-767: Is rarer, and they sometimes establish partnerships with public universities. John D. Rockefeller John Davison Rockefeller Sr. (July 8, 1839 – May 23, 1937) was an American business magnate and philanthropist. He was one of the wealthiest Americans of all time and one of the richest people in modern history. Rockefeller was born into a large family in Upstate New York who moved several times before eventually settling in Cleveland , Ohio. He became an assistant bookkeeper at age 16 and went into several business partnerships beginning at age 20, concentrating his business on oil refining . Rockefeller founded
6878-509: Is responsible for the accreditation of these institutes and degrees. These mostly provide undergraduate degrees with a few providing postgraduate degrees. The Informatics Institute of Sri Lanka (IIT), NSBM Green University (NSBM), Horizon Campus and Sri Lanka Institute for Information Technology (SLIIT) are examples. Some foreign universities franchise parts of their degree courses in Sri Lanka with local institutes. Students are charged for
7059-465: Is the largest gift in the university's history and the largest gift ever to any business school. In 2009, planning or construction on several new buildings, half of which cost $ 100 million or more, was underway. Since 2011, major construction projects have included the Jules and Gwen Knapp Center for Biomedical Discovery, a ten-story medical research center, and further additions to the medical campus of
7240-536: Is what we now, many years later, call ' vertical integration ' I do not know whether Mr. Rockefeller ever used the word 'integration'. I only know he conceived the idea. In 1877, Standard clashed with Thomas A. Scott , the president of the Pennsylvania Railroad , Standard's chief hauler. Rockefeller envisioned pipelines as an alternative transport system for oil and began a campaign to build and acquire them. The railroad, seeing Standard's incursion into
7421-742: Is widely used in religious universities and Armenian is used in the Armenian university. The first university opened in Lebanon was the Syrian Protestant College in 1866 (which became the American University of Beirut in 1921). It was founded by Daniel Bliss, a Protestant missionary. The second university opened in Lebanon was the Université Saint-Joseph , founded by the Jesuits in 1875. Oman
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7602-693: The American University in Cairo , the German University in Cairo , The British University in Egypt , the Arab Academy for Science, Technology and Maritime Transport , Misr University for Science and Technology , Misr International University , Future University in Egypt and the Modern Sciences and Arts University . In addition to the state-funded national and private universities in Egypt , international university institutions were founded in
7783-823: The FPT Corporation and Tan Tao University in Tan Tao Group . In Vietnam, there are also "semi-private university"; schools in this category which can receive partial financial support from the government. Almost all private universities have to invite professors and lecturers from state universities. Many lecturers from state-owned universities take up positions in private universities after their retirement. There are numerous private universities and independent faculties in Armenia , mostly in Yerevan . As of 2022, there are 31 private higher education institutions in
7964-776: The George Herbert Jones Laboratory , where Glenn T. Seaborg and his team were the first to isolate plutonium. Hitchcock Hall , an undergraduate dormitory, is on the National Register of Historic Places . The campus is soon to be the home of the Obama Presidential Center , the Presidential Library for the 44th president of the United States with expected completion in 2026. The Obamas settled in
8145-685: The Great Depression . Nonetheless, in 1933, Hutchins proposed an unsuccessful plan to merge the University of Chicago and Northwestern University . During World War II, the university's Metallurgical Laboratory made ground-breaking contributions to the Manhattan Project . The university was the site of the first isolation of plutonium and of the creation of the first artificial, self-sustained nuclear reaction by Enrico Fermi in 1942. The university did not provide standard oversight of Bruno Bettelheim and his tenure as director of
8326-679: The International University Vienna , whose accreditation was withdrawn in 2003 due to academic misconduct; Imadec University , whose first accreditation period ended in January 2006 and was not renewed; TCM Privatuniversität Li Shi Zhen in Vienna , whose accreditation period ended 2009 without renewal students; and PEF Private University of Management Vienna , which closed for economic reasons in March 2012. Belgium makes
8507-766: The John U. Nef Committee on Social Thought . The university contains eight professional schools: the University of Chicago Law School , the Pritzker School of Medicine , the Booth School of Business , the University of Chicago Divinity School , the University of Chicago Harris School of Public Policy , the University of Chicago School of Social Service Administration , the Graham School of Continuing Liberal and Professional Studies (which offers non-degree courses and certificates as well as degree programs) and
8688-636: The Miller–Urey experiment , was conducted at the university. REM sleep was discovered at the university in 1953 by Nathaniel Kleitman and Eugene Aserinsky . The University of Chicago (Department of Astronomy and Astrophysics) operated the Yerkes Observatory in Williams Bay, Wisconsin from 1897 until 2018, where the largest operating refracting telescope in the world and other telescopes are located. Private university Across
8869-540: The New Administrative Capital and are hosting branches of Universities from abroad. The Knowledge Hub (TKH) and European Universities in Egypt (EUE) are among these institutions. The Ethiopian Orthodox Tewahedo Church doctrine embraces traditional higher institutions in Ethiopia . Modern higher education could be traced back to the regime of Emperor Haile Selassie , with the first university,
9050-524: The Orthogenic School for Disturbed Children from 1944 to 1973. In the early 1950s, student applications declined as a result of increasing crime and poverty in the Hyde Park neighborhood. In response, the university became a major sponsor of a controversial urban renewal project for Hyde Park , which profoundly affected both the neighborhood's architecture and street plan. During this period
9231-795: The Pritzker School of Molecular Engineering . The Law School is accredited by the American Bar Association , the Divinity School is accredited by the Commission on Accrediting of the Association of Theological Schools in the United States and Canada , and Pritzker is accredited by the Liaison Committee on Medical Education . The university runs a number of academic institutions and programs apart from its undergraduate and postgraduate schools. It operates
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#17327798905469412-539: The Private Universities Act, 1992 was instituted, consolidated, and re-enacted as the Private Universities Act, 2010 . All private universities must be approved by University Grants Commission (UGC) before they are given a permit to operate. As of April 2018, there were 97 private universities in Bangladesh . Private institutions must confer the students with external programs such as BDTVEC,
9593-497: The South Improvement Company offering special deals to bulk customers like Standard Oil, outside the main oil centers. The cartel offered preferential treatment as a high-volume shipper, which included not just steep discounts/rebates of up to 50% for their product but rebates for the shipment of competing products. Part of this scheme was the announcement of sharply increased freight charges. This touched off
9774-572: The Standard Oil Company in 1870. He ran it until 1897 and remained its largest shareholder . In his retirement, he focused his energy and wealth on philanthropy, especially regarding education, medicine, higher education, and modernizing the Southern United States . Rockefeller's wealth soared as kerosene and gasoline grew in importance, and he became the richest person in the country, controlling 90% of all oil in
9955-945: The Supreme Court of the United States found Standard Oil Company of New Jersey in violation of the Sherman Antitrust Act . By then the trust still had a 70% market share of the refined oil market but only 14% of the U.S. crude oil supply. The court ruled that the trust originated in illegal monopoly practices and ordered it to be broken up into 34 new companies. These included, among many others, Continental Oil, which became Conoco , now part of ConocoPhillips ; Standard of Indiana, which became Amoco , now part of BP ; Standard of California, which became Chevron ; Standard of New Jersey, which became Esso (and later, Exxon ), now part of ExxonMobil ; Standard of New York, which became Mobil , now part of ExxonMobil; and Standard of Ohio, which became Sohio , now part of BP. Pennzoil and Chevron have remained separate companies. Rockefeller, who had rarely sold shares, held over 25% of Standard's stock at
10136-425: The UGC (Establishment and Maintenance of Standards in Private Universities) Regulations, 2003 . Per the UGC act and these regulations, private universities are established by acts of state legislative assemblies and listed by the UGC in the Gazette upon receiving the relevant act. As confirmed by the ruling of the Supreme Court of India , recognition by the UGC is required for the university to operate. Also, per
10317-472: The University of Chicago Laboratory Schools (a private day school for K-12 students and day care ), and a public charter school with four campuses on the South Side of Chicago administered by the university's Urban Education Institute. In addition, the Hyde Park Day School, a school for students with learning disabilities, and the Sonia Shankman Orthogenic School , a residential treatment program for those with behavioral and emotional problems, maintains
10498-400: The University of Chicago Medical Center . In 2014 the university launched the public phase of a $ 4.5 billion fundraising campaign. In September 2015, the university received $ 100 million from The Pearson Family Foundation to establish The Pearson Institute for the Study and Resolution of Global Conflicts and The Pearson Global Forum at the Harris School of Public Policy . In 2019,
10679-757: The University of Chicago Press , and the University of Chicago Medical Center , and oversees several laboratories, including Fermi National Accelerator Laboratory (Fermilab) , Argonne National Laboratory , and the Marine Biological Laboratory . The university is accredited by The Higher Learning Commission . The university runs on a quarter system in which the academic year is divided into four terms: Summer (June–August), Autumn (September–December), Winter (January–March), and Spring (April–June). Full-time undergraduate students take three to four courses every quarter for approximately nine weeks before their quarterly academic breaks. The school year typically begins in late September and ends in late May. After its foundation in
10860-467: The University of Chicago Press , the largest university press in the United States. The University of Chicago Library system encompasses six libraries that contain a total of 11 million volumes, the 9th most among library systems in the United States. The university's main library is the Regenstein Library , which contains one of the largest collections of print volumes in the United States. The Joe and Rika Mansueto Library , built in 2011, houses
11041-410: The Young Men's Christian Association training school at Springfield to coach the school's football program. Stagg was given a position on the faculty, the first such athletic position in the United States. While coaching at the university, Stagg invented the numbered football jersey and the huddle. Stagg is the namesake of the university's Stagg Field . The business school was founded in 1898, and
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#173277989054611222-502: The district of Neuwied . In 1864, Rockefeller married Laura Celestia "Cettie" Spelman (1839–1915), daughter of Harvey Buell Spelman and Lucy Henry. They had four daughters and one son together. He said later, "Her judgment was always better than mine. Without her keen advice, I would be a poor man." The Rockefeller wealth, distributed as it was through a system of foundations and trusts, continued to fund family philanthropic, commercial, and, eventually, political aspirations throughout
11403-568: The law school was founded in 1902. Harper died in 1906 and was replaced by a succession of three presidents whose tenures lasted until 1929. During this period, the Oriental Institute was founded to support and interpret archeological work in what was then called the Near East. In the 1890s, the university, fearful that its vast resources would injure smaller schools by drawing away good students, affiliated with several regional colleges and universities: Des Moines College , Kalamazoo College , Butler University , and Stetson University . In 1896,
11584-804: The "radiocarbon revolution" in the carbon-14 dating of ancient life and objects. The university research efforts include administration of Fermi National Accelerator Laboratory and Argonne National Laboratory , as well as the Marine Biological Laboratory . The university is also home to the University of Chicago Press , the largest university press in the United States. The university's students, faculty, and staff has included 101 Nobel laureates . The university's faculty members and alumni also include 10 Fields Medalists, 4 Turing Award winners, 52 MacArthur Fellows , 26 Marshall Scholars , 54 Rhodes Scholars , 27 Pulitzer Prize winners, 20 National Humanities Medalists , 29 living billionaire graduates, and 8 Olympic medalists . The first University of Chicago
11765-455: The 1880s Standard Oil had passed its peak of power over the world oil market. Rockefeller finally gave up his dream of controlling all the world's oil refining; he admitted later, "We realized that public sentiment would be against us if we actually refined all the oil." Over time, foreign competition and new finds abroad eroded his dominance. In the early 1880s, Rockefeller created one of his most important innovations. Rather than try to influence
11946-668: The 2003 regulations, the UGC sends committees to inspect the private universities and publishes their inspection report. The UGC publishes and regularly updates the lists of private universities. As of 23 August 2022 , the UGC lists 421 private universities. As of 2010 , Japan had 597 private universities, 86 national universities , and 95 public universities . Private universities thus account for over 75% of all universities in Japan. A large number of junior colleges in Japan are private and like public and national universities, many private universities use National Center Test for University Admissions as an entrance exam . There
12127-421: The 2018 Illinois Bicentennial, the University of Chicago Quadrangles were selected as one of the Illinois 200 Great Places by the American Institute of Architects Illinois component (AIA Illinois). After the 1940s, the campus's Gothic style began to give way to modern styles. In 1955, Eero Saarinen was contracted to develop a second master plan, which led to the construction of buildings both north and south of
12308-550: The 20th century. John Jr.'s youngest son David Rockefeller was a leading New York banker, serving for over 20 years as CEO of Chase Manhattan (now part of JPMorgan Chase ). Second son Nelson Aldrich Rockefeller was Republican governor of New York and the 41st Vice President of the United States . Fourth son Winthrop Aldrich Rockefeller served as Republican Governor of Arkansas . Grandchildren Abigail Aldrich "Abby" Rockefeller and John Davison Rockefeller III became philanthropists. Grandson Laurance Spelman Rockefeller became
12489-399: The 21st century. However, since then, Ghana has seen a flood of private universities and colleges established – a reflection of the country's stable governance and the pace of economic growth. Most of these universities are not known to be sponsored by foreign corporate organizations or government universities and the aim is to avoid the Ghanaian government's excessive payment of bonds, which is
12670-417: The 41 companies in the trust. The public and the press were immediately suspicious of this new legal entity, and other businesses seized upon the idea and emulated it, further inflaming public sentiment. Standard Oil had gained an aura of invincibility, always prevailing against competitors, critics, and political enemies. It had become the richest, biggest, most feared business in the world, seemingly immune to
12851-442: The Auston Institute of Management, Singapore. The Sri Lanka campus was established in 2010 and is a Board of Investment or (BOI) company. It retains a similar focus to the home campus and occupies a prime spot along Colombo's famous Galle Road. In Taiwan , private universities are typically not as prestigious as some public (national) universities. They are not ranked as high as public institutions and cost nearly twice as much. This
13032-678: The Chicago firm Skidmore, Owings & Merrill . Another master plan, designed in 1999 and updated in 2004, produced the Gerald Ratner Athletics Center (2003), the Max Palevsky Residential Commons (2001), South Campus Residence Hall and dining commons (2009), a new children's hospital, and other construction, expansions, and restorations. In 2011, the university completed the glass dome-shaped Joe and Rika Mansueto Library , which provides
13213-419: The Civil War, military consumption of oil drove the price up from $ .35 a barrel in 1862 to as high as $ 13.75. This created an oil-drilling glut, with thousands of speculators attempting to make their fortunes. Most failed, but those who struck oil did not even need to be efficient. They would blow holes in the ground and gather up the oil as they could, often leading to creeks and rivers flowing with wasted oil in
13394-553: The Commonwealth of Pennsylvania indicted Rockefeller in 1879 on charges of monopolizing the oil trade, starting an avalanche of similar court proceedings in other states and making a national issue of Standard Oil's business practices. Rockefeller was under great strain during the 1870s and 1880s when he was carrying out his plan of consolidation and integration and being attacked by the press. He complained that he could not stay asleep most nights. Rockefeller later commented: All
13575-581: The Core Curriculum. In 2012–2013, the Core classes at Chicago were limited to 17 courses, and are generally led by a full-time professor (as opposed to a teaching assistant ). As of the 2013–2014 school year, 15 courses and demonstrated proficiency in a foreign language are required under the Core. Undergraduate courses at the University of Chicago are known for their demanding standards, heavy workload and academic difficulty; according to Uni in
13756-676: The Crystal River Railroad Company, and possibly the Rocky Mountain Coal and Iron Company. Control was passed from the Iowa Group to Gould and Rockefeller interests in 1903 with Gould in control and Rockefeller and Gates representing a minority interests. Osgood left the company in 1904 and devoted his efforts to operating competing coal and coke operations. The strike, called in September 1913 by
13937-583: The Eckhart Library for mathematics and computer science. Harper Memorial Library is now a reading and study room. According to the National Science Foundation , University of Chicago spent $ 423.9 million on research and development in 2018, ranking it 60th in the nation. It is classified among "R1: Doctoral Universities – Very high research activity" and is a founding member of the Association of American Universities and
14118-583: The Euclid Avenue Baptist Church)—an independent Baptist church that eventually associated with the Northern Baptist Convention (1907–1950; now part of the modern American Baptist Churches USA ). His mother was deeply religious and disciplined, and had a major influence on him in religious matters. During church service, his mother would urge him to contribute his few pennies to the congregation. Rockefeller associated
14299-594: The German origin of Rockefeller and traced them to the early 17th century. Johann Peter Rockenfeller (baptized September 27, 1682, in the Protestant church of Rengsdorf ) immigrated in 1723 from Altwied (today a district of Neuwied , Rhineland-Palatinate ) with three children to North America. He settled in Germantown, Pennsylvania . The name Rockenfeller refers to the now-abandoned village of Rockenfeld in
14480-590: The Humanities Collegiate Division, and the New Collegiate Division. The first four are sections within their corresponding graduate divisions, while the New Collegiate Division administers interdisciplinary majors and studies which do not fit in one of the other four divisions. Undergraduate students are required to take a distribution of courses to satisfy the university's general education requirements, commonly known as
14661-466: The Hyde Park campus and is affiliated with multiple academic centers and institutes. The University of Chicago has been the site of some important experiments and academic movements. In economics, the university has played an important role in shaping ideas about the free market and is the namesake of the Chicago school of economics , the school of economic thought supported by Milton Friedman and other economists. The university's sociology department
14842-767: The Law . The university has an extensive record of producing successful business leaders and billionaires. The College of the University of Chicago grants Bachelor of Arts and Bachelor of Science degrees in 51 academic majors and 33 minors. The college's academics are divided into five divisions: the Biological Sciences Collegiate Division, the Physical Sciences Collegiate Division, the Social Sciences Collegiate Division,
15023-560: The Main Quadrangles were designed by Cobb, Shepley, Rutan and Coolidge , Holabird & Roche , and other architectural firms in a mixture of the Victorian Gothic and Collegiate Gothic styles, patterned on the colleges of the University of Oxford. (Mitchell Tower, for example, is modeled after Oxford's Magdalen Tower , and the university Commons, Hutchinson Hall , replicates Christ Church Hall.) In celebration of
15204-710: The Midway, including the Laird Bell Law Quadrangle (a complex designed by Saarinen); a series of arts buildings; a building designed by Ludwig Mies van der Rohe for the university's School of Social Service Administration, a building which is to become the home of the Harris School of Public Policy by Edward Durrell Stone , and the Regenstein Library , the largest building on campus, a brutalist structure designed by Walter Netsch of
15385-473: The Rockefellers and the coal industry. The United States Commission on Industrial Relations conducted extensive hearings, singling out John D. Rockefeller Jr. and the Rockefellers' relationship with Bowers for special attention. Bowers was relieved of duty and Wellborn restored to control in 1915, then industrial relations improved. Rockefeller denied any responsibility and minimized the seriousness of
15566-525: The Standard Oil Company. By the end of the American Civil War , Cleveland was one of the five main refining centers in the U.S. (besides Pittsburgh, Pennsylvania , New York , and the region in northwestern Pennsylvania where most of the oil originated). By 1869 there was triple the kerosene refining capacity than needed to supply the market, and the capacity remained in excess for many years. On January 10, 1870, Rockefeller abolished
15747-473: The USA , "Among the academic cream of American universities – Harvard, Yale, Princeton, MIT, and the University of Chicago – it is UChicago that can most convincingly claim to provide the most rigorous, intense learning experience." The university graduate schools and committees are divided into four divisions: Biological Sciences, Humanities, Physical Sciences, and Social Sciences, and eight professional schools. In
15928-600: The United Mine Workers over the issue of union representation , was against coal mine operators in Huerfano and Las Animas counties of southern Colorado, where the majority of CF&I's coal and coke production was located. The strike was fought vigorously by the coal mine operators association and its steering committee, which included Welborn, president of CF&I, a spokesman for the coal operators. Rockefeller's operative, Lamont Montgomery Bowers, remained in
16109-508: The United States at his peak in 1900. Oil was used in lamps, and as a fuel for ships and automobiles. Standard Oil was the greatest business trust in the United States. Through use of the company's monopoly power , Rockefeller revolutionized the petroleum industry and, through corporate and technological innovations, was instrumental in both widely disseminating and drastically reducing the production cost of oil. Rockefeller's company and business practices came under criticism, particularly in
16290-675: The University College of Addis Ababa (now called the Addis Ababa University or AAU) formed in 1950. In 1954, the Haramaya University opened. As of 2022, there are 83 private universities, 42 public universities, and more than 35 institutions of higher learning. There are 16,305 students enrolled in higher education as a whole. There were a few private universities in Ghana before the beginning of
16471-652: The University Grant Commission (UGC), is the primary regulator of higher education in Pakistan . It also facilitates the development of the higher educational system in Pakistan. Its main purpose is to upgrade the schools to be world-class centers of education, research, and development. It also plays a leading role in building a knowledge-based economy in Pakistan by giving out hundreds of doctoral scholarships for education abroad every year. Despite
16652-489: The University of Chicago Hospitals (now called the University of Chicago Medical Center ) finished construction and enrolled their first medical students. Also, the philosophy oriented Committee on Social Thought , an institution distinctive of the university, was created. Money that had been raised during the 1920s and financial backing from the Rockefeller Foundation helped the school to survive through
16833-571: The University of Chicago announced plans to establish the Milton Friedman Institute , which attracted both support and controversy from faculty members and students. The institute would cost around $ 200 million and occupy the buildings of the Chicago Theological Seminary . During the same year, investor David G. Booth donated $ 300 million to the university's Booth School of Business , which
17014-476: The University of Chicago consists of 217 acres (87.8 ha) in the Chicago neighborhoods of Hyde Park and Woodlawn , approximately eight miles (13 km) south of downtown Chicago . The northern and southern portions of campus are separated by the Midway Plaisance , a large, linear park created for the 1893 World's Columbian Exposition . In 2011, Travel+Leisure listed the university as one of
17195-465: The University of Chicago. William Rainey Harper became the university's president on July 1, 1891, and the Hyde Park campus opened for classes on October 1, 1892. Harper worked on building up the faculty and in two years he had a faculty of 120, including eight former university or college presidents. Harper was an accomplished scholar ( Semiticist ) and a member of the Baptist clergy who believed that
17376-789: The autumn quarter of 2022, the university enrolled 10,546 graduate students on degree-seeking courses: 569 in the Biological Sciences Division, 612 in the Humanities Division, 2,103 in the Physical Sciences Division, 972 in the Social Sciences Division, and 6,290 in the professional schools (including the Graham School). The university is home to several committees for interdisciplinary scholarship, including
17557-436: The background. Few miners belonged to the union or participated in the strike call, but the majority honored it. Strikebreakers (called "scabs") were threatened and sometimes attacked. Both sides purchased substantial arms and ammunition. Striking miners were forced to abandon their homes in company towns and lived in tent cities erected by the union, such as the tent city at Ludlow, a railway stop north of Trinidad . Under
17738-464: The beginning, I was trained to work, to save, and to give." When he was a boy, his family moved to Moravia, New York , and to Owego, New York , in 1851, where he attended Owego Academy. In 1853, his family moved to Strongsville, Ohio , and he attended Cleveland's Central High School , the first high school in Cleveland and the first free public high school west of the Alleghenies. Then he took
17919-584: The board of trustees and donor of the Ryerson Physical Laboratory) Adolphus Clay Bartlett and Leon Mandel, who funded the construction of the gymnasium and assembly hall, and George C. Walker of the Walker Museum, a relative of Cobb who encouraged his inaugural donation for facilities. The new university acknowledged its predecessor. The university's coat of arms has a phoenix rising from the ashes,
18100-428: The boom and bust of the business cycle, consistently making profits year after year. The company's vast American empire included 20,000 domestic wells, 4,000 miles of pipeline, 5,000 tank cars, and over 100,000 employees. Its share of world oil refining topped out above 90% but slowly dropped to about 80% for the rest of the century. Despite the formation of the trust and its perceived immunity from all competition, by
18281-471: The company's board of directors. In full retirement at age 63, Rockefeller earned over $ 58 million (~$ 1.65 billion in 2023) in investments in 1902. One of the most effective attacks on Rockefeller and his firm was the 1904 publication of The History of the Standard Oil Company , by Ida Tarbell , a leading muckraker . She documented the company's espionage, price wars, heavy-handed marketing tactics, and courtroom evasions. Although her work prompted
18462-487: The contrary, the Free University of Brussels (nowadays split into ULB and VUB ) was founded by masonic individuals. All of these institutions began to be recognized by the State from 1891 onwards. It is forbidden by law to call a fully private institution "university" or "faculty", meaning fully private (non- free ) 'universities' have limited visibility. Bulgaria has many private universities, among which
18643-530: The country, most notably the American University of Armenia and the Eurasia International University . In Austria , educational institutions must be authorized by the country to legally grant academic degrees . All state-run universities are governed by the 2002 Austrian Universities' and University Degree Programmes' Organisation Act (Federal Law Gazette No. 120/2002). In 1999, a federal law ( Universitäts-Akkreditierungsgesetz )
18824-563: The criticism of the HEC, its creation had a positive impact on higher education in Pakistan. Its two-year report for 2004 to 2006 states that according to the Institute of Scientific Information, the total number of publications appearing in the 8,000 leading journals indexed in the Web of Science arising out of Pakistan in 2005 was 1,259 articles, representing a 41% increase over the past two years and
19005-784: The downtown Streeterville neighborhood of Chicago. The Center in Paris, a campus located on the left bank of the Seine in Paris, hosts various undergraduate and graduate study programs. In fall 2010, the university opened a center in Beijing, near Renmin University 's campus in Haidian District . The most recent additions are a center in New Delhi , India, which opened in 2014, and a center in Hong Kong which opened in 2018. In 2024,
19186-447: The end of the 1870s, Standard was refining over 90% of the oil in the U.S. Rockefeller had already become a millionaire ($ 1 million is equivalent to $ 32 million in 2023 dollars). He instinctively realized that orderliness would only proceed from centralized control of large aggregations of plant and capital, with the one aim of an orderly flow of products from the producer to the consumer. That orderly, economic, efficient flow
19367-439: The established laws of high-class dealing" seemed to be at odds with his true business methods. Rockefeller and his son continued to consolidate their oil interests as best they could until New Jersey, in 1909, changed its incorporation laws to effectively allow a re-creation of the trust in the form of a single holding company . Rockefeller retained his nominal title as president until 1911 and he kept his stock. At last in 1911,
19548-572: The event. When testifying on the Ludlow Massacre , and asked what action he would have taken as Director, John D. Rockefeller Jr. stated, "I would have taken no action. I would have deplored the necessity which compelled the officers of the company to resort to such measures to supplement the State forces to maintain law and order." He admitted that he had made no attempt to bring the militiamen to justice. Against long-circulating speculations that his family has French roots, genealogists proved
19729-544: The first to gain degree awarding status was Hajvery University, Lahore (HU), established in 1990. From 2003–2004, Pakistan had a total of 83 private degree granting institutions. There are nine private universities in Saudi Arabia . In Sri Lanka , state-recognized private institutes are allowed to award degrees under Section 25A of the Universities Act No. 16 of 1978. The University Grants Commission
19910-476: The fortune that I have made has not served to compensate me for the anxiety of that period. Although it always had hundreds of competitors, Standard Oil gradually gained dominance of oil refining and sales as market share in the United States through horizontal integration , ending up with about 90% of the US market. In the kerosene industry, the company replaced the old distribution system with its own vertical system. It supplied kerosene by tank cars that brought
20091-559: The fray providing financing. Additional fields were discovered in Burma and Java. Even more critical, the invention of the light bulb gradually began to erode the dominance of kerosene for illumination. Standard Oil adapted by developing a European presence, expanding into natural gas production in the U.S., and then producing gasoline for automobiles, which until then had been considered a waste product. Standard Oil moved its headquarters to New York City at 26 Broadway, and Rockefeller became
20272-531: The fuel to local markets, and tank wagons then delivered to retail customers, thus bypassing the existing network of wholesale jobbers. Despite improving the quality and availability of kerosene products while greatly reducing their cost to the public (the price of kerosene dropped by nearly 80% over the life of the company), Standard Oil's business practices created intense controversy. Standard's most potent weapons against competitors were underselling, differential pricing, and secret transportation rebates. The firm
20453-564: The futility of continuing to compete against Standard Oil; in 1874, they made a secret agreement with Rockefeller to be acquired. Pratt and Rogers became Rockefeller's partners. Rogers, in particular, became one of Rockefeller's key men in the formation of the Standard Oil Trust . Pratt's son, Charles Millard Pratt , became secretary of Standard Oil. For many of his competitors, Rockefeller had merely to show them his books so they could see what they were up against and then make them
20634-404: The global top 10 for eleven consecutive years (from 2012 to 2022). The university's law and business schools rank among the top three professional schools in the United States. The business school is currently ranked first in the US by US News & World Report and first in the world by The Economist , while the law school is ranked third by US News & World Report and first by Above
20815-405: The great expansion westward fostered by the growth of railroads and an oil -fueled economy. He borrowed heavily, reinvested profits, adapted rapidly to changing markets, and fielded observers to track the quickly expanding industry. In 1866, William Rockefeller Jr., John's brother, built another refinery in Cleveland and brought John into the partnership. In 1867, Henry Morrison Flagler became
20996-403: The idea of the partnership and offered $ 2,000 towards the goal. Rockefeller had only $ 800 saved up at the time and so borrowed $ 1,000 from his father, "Big Bill" Rockefeller, at 10 percent interest. Rockefeller went steadily ahead in business from there, making money each year of his career. In their first and second years of business, Clark, Gardner & Rockefeller netted $ 4,400 (on nearly half
21177-530: The industry's savior, "an angel of mercy" absorbing the weak and making the industry as a whole stronger, more efficient, and more competitive. Standard was growing horizontally and vertically . It added its own pipelines, tank cars, and home delivery network. It kept oil prices low to stave off competitors, made its products affordable to the average household, and, to increase market penetration, sometimes sold below cost. It developed over 300 oil-based products from tar to paint to petroleum jelly to chewing gum. By
21358-643: The largest awarding body in the country, BTEC , and Cambridge International Examinations pathways. Accreditation by the Brunei Darussalam National Accreditation Council (BDNAC) is crucial to establish a private institution. Private universities have been established in Cambodia since 1997. Since 2003, joint-partnership private universities have been established in the People's Republic of China (PRC). Typically,
21539-658: The late 19th century, the University of Chicago quickly became established as one of the wealthiest and, according to Henry S. Webber, one of the most prestigious universities in America. To elevate higher education standards and practices, the university was a founder of the Association of American Universities in 1900. According to Jonathan R. Cole , universities such as Chicago leveraged endowments to fund research, attracting accomplished faculty and producing academic advancements, leading to sustained growth and maintenance of their institutional profile such that Chicago has been among
21720-461: The least efficient competing refiners, improving the efficiency of his operations, pressing for discounts on oil shipments, undercutting his competition, making secret deals, raising investment pools, and buying rivals out. In less than four months in 1872, in what was later known as "The Cleveland Conquest" or "The Cleveland Massacre", Standard Oil absorbed 22 of its 26 Cleveland competitors. Eventually, even his former antagonists, Pratt and Rogers, saw
21901-469: The most beautiful college campuses in the United States. The first buildings of the campus, which make up what is now known as the Main Quadrangles, were part of a master plan conceived by two University of Chicago trustees and plotted by Chicago architect Henry Ives Cobb . The Main Quadrangles consist of six quadrangles , each surrounded by buildings, bordering one larger quadrangle. The buildings of
22082-527: The most distinguished research universities in the US for more than a century. The university is described by the Encyclopedia Britannica as "one of the United States' most outstanding universities". ARWU has consistently placed the University of Chicago among the top 10 universities in the world, and the 2021 QS World University Rankings placed the university in 9th place worldwide. THE World University Rankings has ranked it among
22263-482: The most renowned are New Bulgarian University , located in the capital city Sofia ; Burgas Free University ; Varna Free University and American University in Bulgaria . Finland does not officially recognize private universities but does not explicitly forbid them either. Helsinki School of Business is an example of one such educational institution operating in this market. Since 1880, it has been illegal for
22444-503: The number of required courses from 21 to 15. When The New York Times , The Economist , and other major news outlets picked up this story, the university became the focal point of a national debate on education. The changes were ultimately implemented, but the controversy played a role in Sonnenschein's decision to resign in 2000. From the mid-2000s, the university began a number of multimillion-dollar expansion projects. In 2008,
22625-770: The oil business during the " South Improvement Company " affair. Rockefeller called her "Miss Tarbarrel" in private but held back in public saying only, "not a word about that misguided woman." He began a publicity campaign to put his company and himself in a better light. Though he had long maintained a policy of active silence with the press, he decided to make himself more accessible and responded with conciliatory comments such as "capital and labor are both wild forces which require intelligent legislation to hold them in restriction." He wrote and published his memoirs beginning in 1908. Critics found his writing to be sanitized and disingenuous and thought that statements such as "the underlying, essential element of success in business are to follow
22806-429: The other 40% in rivers and massive sludge piles, Rockefeller used the gasoline to fuel the refinery, and sold the rest as lubricating oil, petroleum jelly and paraffin wax, and other by-products. Tar was used for paving, naphtha shipped to gas plants. Likewise, Rockefeller's refineries hired their own plumbers, cutting the cost of pipe-laying in half. Barrels that cost $ 2.50 each ended up only $ 0.96 when Rockefeller bought
22987-715: The partners may include a Chinese university and a non-Chinese institution. English is often the only language of instruction at such universities and many focus on providing a comprehensive liberal arts education modeled after research universities in the United States and Europe. Universities in India are recognized by the University Grants Commission (UGC), which draws its power from the University Grants Commission Act, 1956 . Private universities in India are regulated under
23168-425: The partnership of Rockefeller, Andrews & Flagler, co-founding Standard Oil of Ohio. Continuing to apply his work ethic and efficiency, Rockefeller quickly expanded the company to be the most profitable refiner in Ohio. Likewise, it became one of the largest shippers of oil and kerosene in the country. The railroads competed fiercely for traffic and, in an attempt to create a cartel to control freight rates, formed
23349-427: The place of water. A market existed for the refined oil in the form of kerosene. Coal had previously been used to extract kerosene, but its tedious extraction process and high price prevented broad use. Even with the high costs of freight transportation and a government levy during the Civil War (the government levied a tax of twenty cents a gallon on refined oil), profits on the refined product were large. The price of
23530-414: The president are the provost, fourteen vice presidents (including the chief financial officer, chief investment officer , and vice president for campus life and student services), the directors of Argonne National Laboratory and Fermilab , the secretary of the university, and the student ombudsperson . As of May 2022, the current chairman of the board of trustees is David Rubenstein . The current provost
23711-517: The price of crude oil directly, Standard Oil had been exercising indirect control by altering oil storage charges to suit market conditions. Rockefeller then ordered the issuance of certificates against oil stored in its pipelines. These certificates became traded by speculators, thus creating the first oil-futures market which effectively set spot market prices from then on. The National Petroleum Exchange opened in Manhattan in late 1882 to facilitate
23892-470: The prospect of those war-time profits ending, Clark & Rockefeller looked toward the refining of crude oil. While his brother Frank fought in the Civil War, Rockefeller tended his business and hired substitute soldiers . He gave money to the Union cause, as did many rich Northerners who avoided combat. "I wanted to go in the army and do my part," Rockefeller said. "But it was simply out of the question. There
24073-464: The protection of the National Guard, some miners returned to work and some strikebreakers, imported from the eastern coalfields, joined them as Guard troops protected their movements. In February 1914, a substantial portion of the troops were withdrawn, but a large contingent remained at Ludlow. On April 20, 1914, a general fire-fight occurred between strikers and troops, which was antagonized by
24254-652: The recent discovery of oil and gas in commercial quantities has influenced the development of oil and gas management courses within the private universities' curricula. Libya has several recognized private education institutions and universities that have been approved by the Ministry of Higher Education. They are ranked and qualified to specialize in academic programs in Business Administration, Computer Science, Law, Medicine, and Humanitarianism. The National Universities Commission of Nigeria holds
24435-427: The refined oil in 1863 was around $ 13 a barrel, with a profit margin of around $ 5 to $ 8 a barrel. The capital expenditures for a refinery at that time were small – around $ 1,000 to $ 1,500 and requiring only a few men to operate. In this environment of a wasteful boom, the partners switched from foodstuffs to oil, building an oil refinery in 1863 in " The Flats ", then Cleveland's burgeoning industrial area. The refinery
24616-582: The regular household chores and earned extra money raising turkeys, selling potatoes and candy, and eventually lending small sums of money to neighbors. He followed his father's advice to "trade dishes for platters" and always get the better part of any deal. Bill once bragged, "I cheat my boys every chance I get. I want to make 'em sharp." However, his mother was more influential in John's upbringing and beyond, while he distanced himself further and further from his father as his life progressed. He later stated, "From
24797-796: The responsibility to approve private universities and accredit their courses. This ensures a minimum standard in curriculum and teaching. There are currently 60 approved private universities in Nigeria and many applications are being processed. In South Africa , there are many distinctions between public universities and what are officially termed private higher education institutions. Recognized private higher education institutions include Akademia ( af ), Regent Business School , Eduvos , Varsity College , Vega School , Milpark , Midrand Graduate Institute , and Regenesys Business School . Numerous private universities were established in Bangladesh after
24978-428: The same privileges including social security, foreign law, and state scholarships as students at state universities. Educational services of private universities are not subject to value added tax , and donations are tax-deductible. Accreditations must be renewed regularly and can be withdrawn, e.g., in the case of repeated academic misconduct as happened in 2003 when the accreditation of International University Vienna
25159-615: The site of an evangelical revival known as the Second Great Awakening . It drew masses to various Protestant churches—especially Baptist ones—and urged believers to follow such ideals as hard work, prayer, and good deeds to build "the Kingdom of God on Earth." Early in his life, he regularly went with his siblings and mother Eliza to the local Baptist church—the Erie Street Baptist Church (later
25340-424: The student movement. In 1978, history scholar Hanna Holborn Gray , then the provost and acting president of Yale University , became president of the University of Chicago, a position she held for 15 years. She was the first woman in the United States to hold the presidency of a major university. In 1999, then-President Hugo Sonnenschein announced plans to relax the university's famed core curriculum , reducing
25521-684: The student-teacher ratio is typically lower and there are more opportunities for hands-on learning. Additionally, private universities in Oman often have more flexible curriculums and can respond quickly to changing labor markets and global trends. All private universities in Oman must be recognized by the Omani Ministry of Higher Education to offer degree programs and receive approval for new degrees. The Ministry has procedures and standards that all universities must meet to receive accreditation and recognition as an institution of higher education. The Higher Education Commission (HEC), formerly
25702-403: The study (some of these institutes are state-funded institutions of their home countries) and these charges are often a fraction of the cost of studying in the home countries of these institutions. Efforts to establish private universities have been blocked due to protests from state universities' undergraduates and leftist political parties. Many private colleges have sprung up since, including
25883-721: The term "university" as opposed to "private university" in their advertisements in all languages except German while still complying with Austrian law. While the legal definition of "private university" prohibits funding by the federal government of Austria, funding by other public bodies is not prohibited. Consequently, some of Austria's private universities are partly or wholly funded by provincial governments, while others are fully privately funded. Accreditation of private universities began in 2001. As of 2020 , Austria has 16 private universities. Most are small (fewer than 1000 students) and specialize in only one or two fields of study. Four former private universities are not accredited anymore:
26064-456: The time being. While competitors may have been unhappy, Rockefeller's efforts did bring American consumers cheaper kerosene and other oil by-products. Before 1870, oil light was only for the wealthy, provided by expensive whale oil. During the next decade, kerosene became commonly available to the working and middle classes. Undeterred, though vilified for the first time by the press, Rockefeller continued with his self-reinforcing cycle of buying
26245-485: The time of the breakup. He and all of the other stockholders received proportionate shares in each of the 34 companies. In the aftermath, Rockefeller's control over the oil industry was somewhat reduced, but over the next 10 years the breakup proved immensely profitable for him. The companies' combined net worth rose fivefold and Rockefeller's personal wealth jumped to $ 900 million. In 1902, facing cash flow problems, John Cleveland Osgood turned to George Jay Gould ,
26426-462: The trading of oil futures. Although 85% of world crude production was still coming from Pennsylvania in the 1880s, oil from wells drilled in Russia and Asia began to reach the world market. Robert Nobel had established his own refining enterprise in the abundant and cheaper Russian oil fields, including the region's first pipeline and the world's first oil tanker. The Paris Rothschilds jumped into
26607-405: The transportation and pipeline fields, struck back and formed a subsidiary to buy and build oil refineries and pipelines. Standard countered, held back its shipments, and, with the help of other railroads, started a price war that dramatically reduced freight payments and caused labor unrest. Rockefeller prevailed and the railroad sold its oil interests to Standard. In the aftermath of that battle,
26788-420: The troops and mine guards. The camp was burned, resulting in 15 women and children, who hid in tents at the camp, being burned to death. Costs to both mine operators and the union were high. This incident brought unwanted national attention to Colorado. Due to reduced demand for coal, resulting from an economic downturn, many of CF&I's coal mines never reopened and many men were thrown out of work. The union
26969-512: The university affiliated with Shimer College in Mount Carroll, Illinois. Under the terms of the affiliation, the schools were required to have courses of study comparable to those at the university, to notify the university early of any contemplated faculty appointments or dismissals, to make no faculty appointment without the university's approval, and to send copies of examinations for suggestions. The University of Chicago agreed to confer
27150-454: The university agreed to pay $ 13.5 million to settle a lawsuit that it and other universities conspired to limit financial aid to students. The academic bodies of the University of Chicago consist of the College , four divisions of graduate research, seven professional schools, and the Graham School of Continuing Liberal and Professional Studies . The university also contains a library system,
27331-440: The university created its first school in three decades, the Pritzker School of Molecular Engineering . On April 29, 2024, students at the University of Chicago set up an encampment on the university's main quad as a part of the nationwide movement in support of Palestine at institutions of higher learning across the country. The encampment was cleared by the University of Chicago Police Department on May 7. The main campus of
27512-621: The university includes eight professional schools, which also house academic research: the Booth School of Business ; Crown Family School of Social Work, Policy, and Practice ; Divinity School ; Graham School of Continuing Liberal and Professional Studies ; Harris School of Public Policy ; Law School ; Pritzker School of Medicine ; and Pritzker School of Molecular Engineering . The university has additional campuses and centers in London, Paris, Beijing, Delhi, and Hong Kong, as well as in downtown Chicago. University of Chicago scholars have played
27693-484: The university opened the John W. Boyer Center in Paris, designed by architectural firm Studio Gang and nearly tripling the size of the Center in Paris which had opened in 2003. The university is governed by a board of trustees. The board of trustees oversees the long-term development and plans of the university and manages fundraising efforts, and is composed of 55 members including the university president. Directly beneath
27874-811: The university's Hyde Park neighborhood where they raised their children and where Barack Obama began his political career. Michelle Obama served as an administrator at the university and founded the university's Community Service Center. In November 2021, a university graduate was robbed and fatally shot on a sidewalk in a residential area in Hyde Park near campus; a total of three University of Chicago students were killed by gunfire incidents in 2021. These incidents prompted student protests and an open letter to university leadership signed by more than 300 faculty members. The university also maintains facilities apart from its main campus. The university's Booth School of Business maintains campuses in Hong Kong , London , and
28055-515: The university's fifth president, 30-year-old legal philosophy scholar Robert Maynard Hutchins , took office. The university underwent many changes during his 24-year tenure. Hutchins reformed the undergraduate college's liberal-arts curriculum known as the Common Core, organized the university's graduate work into four divisions, and eliminated varsity football from the university in an attempt to emphasize academics over athletics. During his term,
28236-453: The university's refusal to divest from South Africa in the 1980s and Darfur in the late 2000s. In 1969, more than 400 students, angry about the dismissal of a popular professor, Marlene Dixon , occupied the Administration Building for two weeks. After the sit-in ended, when Dixon turned down a one-year reappointment, 42 students were expelled and 81 were suspended, the most severe response to student occupations of any American university during
28417-466: The university, like Shimer College and 10 others, adopted an early entrant program that allowed very young students to attend college; also, students enrolled at Shimer were enabled to transfer automatically to the University of Chicago after their second year, having taken comparable or identical examinations and courses. The university experienced its share of student unrest during the 1960s, beginning in 1962 when then-freshman Bernie Sanders helped lead
28598-418: The university—and a number of National Resource Centers , including the Center for Middle Eastern Studies . Chicago also operates or is affiliated with several research institutions apart from the university proper. The university manages Argonne National Laboratory , part of the United States Department of Energy 's national laboratory system, and co-manages Fermi National Accelerator Laboratory (Fermilab) ,
28779-403: The use of rebates to preferred shippers. Rockefeller was also given the duties of collecting debts when Hewitt instructed him to do so. Instead of using his father's method of presence to collect debts, Rockefeller relied on a persistent pestering approach. Rockefeller received $ 16 a month for his three-month apprenticeship. During his first year, he received $ 31 a month, which was increased to $ 50
28960-452: The wood and had them built for himself. In February 1865, in what was later described by oil industry historian Daniel Yergin as a "critical" action, Rockefeller bought out the Clark brothers for $ 72,500 (equivalent to $ 1 million in 2023 dollars) at auction and established the firm of Rockefeller & Andrews. Rockefeller said, "It was the day that determined my career." He was well-positioned to take advantage of postwar prosperity and
29141-610: The work of Abraham Flexner , who in his essay "Medical Education in America" emphatically endowed empiricism as the basis for the US medical system of the 20th century. Rockefeller was the founder of the University of Chicago and Rockefeller University , and funded the establishment of Central Philippine University in the Philippines. He was a devout Northern Baptist and supported many church-based institutions. He adhered to total abstinence from alcohol and tobacco throughout his life. For advice, he relied closely on his wife, Laura Spelman Rockefeller : they had four daughters and
29322-427: The world, different countries have different regulations regarding accreditation for private universities and as such, private universities are more common in some countries than in others. Some countries do not have any private universities at all. Egypt currently has 21 public universities with about two million students and 23 private universities with 60,000 students. Egypt has many private universities including
29503-425: The writings of author Ida Tarbell . The Supreme Court ruled in 1911 that Standard Oil must be dismantled for violation of federal antitrust laws . It was broken up into 34 separate entities, which included companies that became ExxonMobil , Chevron Corporation , and others—some of which remain among the largest companies by revenue worldwide . Consequently, Rockefeller became the country's first billionaire, with
29684-459: Was a homemaker and a devout Baptist who struggled to maintain a semblance of stability at home, as Bill was frequently gone for extended periods. She also put up with his philandering and his double life, which included bigamy. He permanently abandoned his family around 1855 and lived with second wife, Margaret L. Allen. Eliza was thrifty by nature and by necessity, and she taught her son that "willful waste makes woeful want". John did his share of
29865-529: Was a member of the Committee on Institutional Cooperation from 1946 through June 29, 2016, when the group's name was changed to the Big Ten Academic Alliance . The University of Chicago is not a member of the rebranded consortium, but will continue to be a collaborator. The university operates more than 140 research centers and institutes on campus. Among these are the Institute for the Study of Ancient Cultures, West Asia & North Africa —a museum and research center for Near Eastern studies owned and operated by
30046-418: Was attacked by journalists and politicians throughout its existence, in part for these monopolistic methods, giving momentum to the antitrust movement. In 1879, the New York State Legislature 's Hepburn Committee investigations into "alleged abuses" committed by the railroads uncovered the fact that Standard Oil was receiving substantial freight rebates on all of the oil it was transporting by railroad—and
30227-505: Was crushing Standard's competitors thereby. By 1880, according to the New York World , Standard Oil was "the most cruel, impudent, pitiless, and grasping monopoly that ever fastened upon a country". To critics, Rockefeller replied, "In a business so large as ours ... some things are likely to be done which we cannot approve. We correct them as soon as they come to our knowledge." At that time, many legislatures had made it difficult to incorporate in one state and operate in another. As
30408-466: Was described by locals as "Big Bill" and "Devil Bill." Unshackled by conventional morality, he led a vagabond existence and returned to his family infrequently. Throughout his life, Bill was notorious for conducting schemes. In between the births of Lucy and John, Bill and his mistress and housekeeper Nancy Brown had a daughter named Clorinda, who died young. Between John and William Jr.'s births, Bill and Nancy had another daughter, named Cornelia. Eliza
30589-412: Was directly owned by Andrews, Clark & Company, which was composed of Clark & Rockefeller, chemist Samuel Andrews , and M. B. Clark's two brothers. The commercial oil business was then in its infancy. Whale oil had become too expensive for the masses, and a cheaper, general-purpose lighting fuel was needed. While other refineries would keep the 60% of oil product that became kerosene, but dump
30770-439: Was forced to discontinue strike benefits in February 1915. There was destitution in the coalfields. With the help of funds from the Rockefeller Foundation , relief programs were organized by the Colorado Committee on Unemployment and Relief. A state agency created by Governor Carlson, offered work to unemployed miners building roads and doing other useful projects. The casualties suffered at Ludlow mobilized public opinion against
30951-414: Was founded by a small group of Baptist educators in 1856 through a land endowment from Senator Stephen A. Douglas . It closed in 1886 after years of financial struggle and a final annus horribilis in which the campus was badly damaged by fire and the school was foreclosed on by its creditors. Several years later, its trustees elected to change the school's name to the " Old University of Chicago " so that
31132-480: Was no one to take my place. We were in a new business, and if I had not stayed it must have stopped—and with so many dependent on it." Rockefeller was an abolitionist who voted for President Abraham Lincoln and supported the then-new Republican Party . As he said, "God gave me money", and he did not apologize for it. He felt at ease and righteous following Methodist preacher John Wesley 's dictum, "gain all you can, save all you can, and give all you can." During
31313-438: Was of Ulster Scot descent. One source says that some ancestors were Huguenots , the Roquefeuille family, who fled to Germany from France during the reign of Louis XIV and a period of religious persecution. By the time their descendants immigrated to North America, their name had taken German form. William Sr. worked first as a lumberman and then a traveling salesman. He claimed to be a "botanic physician" who sold elixirs, and
31494-535: Was passed to allow the accreditation of private universities. The Akkreditierungsrat (Accreditation Council) evaluates applicants and issues recommendations to the responsible Austrian accreditation authority (the Austrian Federal Ministry of Science & Research). Accreditation by the council yields a couple of privileges: degrees issued by accredited private universities have the same legal status as those issued by state-run universities. Private universities can appoint or promote professors . Their students enjoy
31675-446: Was stipulated that such money could not be used for buildings. The Hyde Park campus was financed by donations from wealthy Chicagoans such as Silas B. Cobb , who provided the funds for the campus's first building, Cobb Lecture Hall , and matched Marshall Field's pledge of $ 100,000. Other early benefactors included businessmen Charles L. Hutchinson (trustee, treasurer and donor of Hutchinson Commons ), Martin A. Ryerson (president of
31856-428: Was the Sherman Antitrust Act of 1890, originally used to control unions, but later central to the breakup of the Standard Oil trust. Ohio was especially vigorous in applying its state antitrust laws, and finally forced a separation of Standard Oil of Ohio from the rest of the company in 1892, the first step in the dissolution of the trust. In the 1890s, Rockefeller expanded into iron ore and ore transportation, forcing
32037-531: Was the first independent sociology department in the United States and gave birth to the Chicago school of sociology . In physics, the university was the site of the Chicago Pile-1 (the first controlled, self-sustaining human-made nuclear chain reaction, part of the Manhattan Project ), of Robert Millikan 's oil-drop experiment that calculated the charge of the electron, and of the development of radiocarbon dating by Willard F. Libby in 1947. The chemical experiment that tested how life originated on early Earth,
32218-662: Was turned over to John Dustin Archbold and Rockefeller bought a new estate, Pocantico Hills , north of New York City, turning more time to leisure activities including the new sports of bicycling and golf. Upon his ascent to the presidency, Theodore Roosevelt initiated dozens of suits under the Sherman Antitrust Act and coaxed reforms out of Congress. In 1901, U.S. Steel , then controlled by J. Pierpont Morgan , having bought Andrew Carnegie's steel assets, offered to buy Standard's iron interests as well. A deal brokered by Henry Clay Frick exchanged Standard's iron interests for U.S. Steel stock and gave Rockefeller and his son membership on
32399-430: Was used chiefly to create the modern systematic approach of targeted philanthropy through the creation of foundations that supported medicine, education, and scientific research. His foundations pioneered developments in medical research and were instrumental in the near-eradication of hookworm in the American South, and yellow fever in the United States. He and Carnegie gave form and impetus through their charities to
32580-414: Was valued at $ 10 billion. Since 2016, the university's board of trustees has resisted pressure from students and faculty to divest its investments from fossil fuel companies. Part of former university President Zimmer's financial plan for the university was an increase in accumulation of debt to finance large building projects. This drew both support and criticism from many in the university community. In 2023
32761-413: Was withdrawn. In 2006, when the accreditation of Imadec University expired, the Accreditation Council rejected any renewal requests. Austrian law provides that private universities in Austria must use the term Privatuniversität ("private university") in their German names, although their formal names in other languages are not regulated. Thus, there is the possibility of private institutions employing
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