Legacy preferences hurt the less well-off but aid what really matters to the university: its endowment.
When the Supreme Court struck down racial preferences in college admissions, Justice Ketanji Brown Jackson accused her colleagues of having “let-them-eat-cake obliviousness.” Her assessment of the case is as confused as the metaphor. It is Harvard and other elite schools that have been behaving like snooty royalty. Now they will no longer be able to have their cake and eat it too.
