Administrators are spending like there's no tomorrow, sure -- but only on things that aggrandize their own reputation and domain. For a long while, administrators have been willing to <i>curtail spending</i> for attracting and retaining <i>the best possible professors and the most promising researchers, including graduate students</i>.<p>Spending more on things that will surely make administrators look, feel, and be more important: Yes. Investing on things that won't: No.