I have seen firsthand what happens when tenured faculties act as if the universities belong to them.
For starters, interest in teaching declines. According to the federal government’s National Center for Education Statistics:
• The average tenured professor now teaches fewer than three classes per year, and often no more than a handful of students at a time, despite the fact that tenured and tenure-track faculty account for the bulk of college costs.
• For so little work, the average full professor receives more than $150,000 annually in salary and benefits.
• As a result, the cost of instruction for some tenured faculty members exceeds $20,000 per student.So who teaches our children, if not the tenured faculty? An underclass of teaching assistants, adjuncts, and other non-tenured faculty – many of whom are paid $10 per hour or less. According to the New York Times, 70 percent of the faculties at American universities are made up of non-tenured, non-tenure track faculty.
from a thoughtful discussion at Texas Public Policy Foundation