The debate seems to be over the price. $700k / yr from lecturing to hedge funds is bad but $150k / yr to do the same at Harvard is good?
(2) Her salary is in line with others in her position and is given in exchange for doing actual work.
(3) Harvard is not in a position to directly profit from potentially privileged information leaking out in her lectures to students
(4) Harvard is not in a position to directly benefit from Yellen influencing current government regulators/policy makers
(5) Harvard is not in a position to directly benefit from Yellen taking a subsequent regulatory/policy position in government
They don't? Harvard's $40 billion endowment is larger than Citadel's assets managed. Harvard is a hedge fund that does education as a side hustle.
Before I answer, are you seriously arguing that taking a job as a professor is the same as getting paid 1 million dollars for ~10 hours of work?