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Prior to the cuts, Coventry Law Centre had funded two trainees internally and two others with external money.
Without external money, the country's banks could collapse and the government could have to leave the euro.
In fact, Yale and all other nonprofit institutions are required to file tax returns and must disclose what they paid their five most expensive outside contractors, which in the case of many universities are external money managers.
A major philanthropist, Soros returned all the external money he managed to outside investors in 2011.
Should the startup search for external money without strong internal support?
On the other hand, their dependence on external money gives scientists at private universities a far-reaching freedom of research.
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"The attorney-general should not have filed this case because Mr Villalobos has always acted appropriately," says Neal Stephens, Mr Villalobos's lawyer.Last year CalPERS changed its policy to force external money-managers to disclose whether they are using placement agents to solicit business and how much they are paying them.
Each fund has its own board, whose members are in effect paid by the fund's investors to watch over their interests.The funds do not manage themselves; rather, they hire external money-management companies which have their own separate sets of shareholders and loyalties.
Rather than solely seeking to inhabit the sick role (an internal incentive), malingerers are driven by external incentives: money, drugs, evading criminal responsibility or work.
What the research shows, instead, is that the great wellspring of creativity is intrinsic motivation — that is, I do my best work for personal rewards (out of love or intellectual fulfillment) and not external motivation (money).
External sponsorship money is harder and harder to come by.
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