What steps must an educational institution wanting to recruit good faculty take? There is a cycle in the academia:
- Good doctorates from top universities invariably join other top universities as faculty members.
- Good students aspire to study in top universities under excellent faculty members.
Suppose a new educational institution or department springs up and desires to set up a top-quality group, how does it break into this cycle? I suppose this could take some years, but is money-power the only thing that could be wielded by the institute to achieve its end?