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One of the really surprising articles I came across was that there exists a group of elite law/business school professors who charge over $1k per hour to basically defend mega-mergers to lawmakers [1]. Some of these professors make tens of millions of dollars individually.

This appears to be something similar. It must really pay to be an “expert”.

1 - https://www.propublica.org/article/these-professors-make-mor...

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this is one of those things that nicely illustrates the gap in network/access/info that ivies+ grant.

i too had no idea of such a thing until i attended (as a guest of a columbia econ phd student) an invited talk by susan athey at columbia where she alluded to the exact same consulting rates (though not for this exactly). at the time, it just didn't register because i couldn't connect it to anything i'd ever had experience with (i was an undergrad). that student has now gone on (after graduating) to work in a consulting group that actually does work on M&A type stuff (though she doesn't bill at that rate). and i am now at one of the schools mentioned in your linked article (as a phd student) and this is so well known that it's completely unremarkable.

Ethics for sale, prices cannot be beat!

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