“Professors who make money outside the classroom: Why should public schools pay a guy to do research and then allow that professor to make money off of that research by writing books, getting speaking fees, and running outside businesses. We wouldn’t let anyone in corporate America do that.”
Universities hire certain professors specifically because of their work in research. All of the money they bring in through grants does not go into the professors pockets. Also, in most cases, any work research that becomes a profitable commodity the university retains rights to, see Florida State University and Taxol. And, those “outside” businesses were most like “spun-off” from the university. Take just about any major university and compare what the science and engineering departments bring in in grant money and compare that to what the athletic department brings in.
