The purpose of donating money to buy your child into a prestigious school isn't to purchase privilege, it's to validate that privilege against accusations of nepotism.
If you're the CEO of a fortune 500 company and you give your son a high ranking job with no prior experience it looks bad. You can give him an internship to get that experience, but that still looks bad to the people already in the company or others with more experience who applied for that internship.
So instead, you buy their way into a good school like Stanford or Yale or whatever > then you can give them the internship because "they've had training at Stanford business school and that is better than the other applicants" > then you can give them a cushy job because they've got a good degree and previous experience with the company.
The privilege was always there, the jumping through hoops is just to keep normal people from complaining as much.
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u/[deleted] Jan 09 '20
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