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As somone who has juat got a PhD (at a ripe old age) which is essentially a work of Sociology focused on local governance, I could not agree more

Indeed

To be fair many UK universities, like Exeter, are not as fortunate as LSE in having the same high levels of philanthropic donations. www.timeshighereducation.com/news/donatio... If they did they won't have to be taking such drastic action.

Donations to elite UK universities fall despite philanthropy pushFundraising becoming ever more important source of income but analysis shows institutions outside of London and Oxbridge struggling to secure increaseswww.timeshighereducation.com

And what answers has the LSE come up with since the publishing of the Macmillan report in 1931? We do not seem to have made much progress. One might argue that 3i resulted, but look what happened to that.