Zephyrus
Tyrants and Slaves
It does matter. Reputation in academia goes a long way. That and the fact of the matter is that public universities, while quite a few (like Michigan and Iowa) are world-renowned, they are grossly dependent on state and federal funding. Private schools like Harvard and Cornell, on the other hand, don't have that problem (for example, the state of Maine is dragging the University of Maine down to the Dark Ages with it by continually reducing funding to education). Alumni from Ivy League schools also tend to reinvest much of their wealth back into their alma maters, which keeps them going quite well.
It's a vicious cycle of reciprocity. If a school does well, people will be more willing to invest in it. If it doesn't do well, then they won't, and so reputation and results mutually inform each other and maintains pretty much a stasis.
It's a vicious cycle of reciprocity. If a school does well, people will be more willing to invest in it. If it doesn't do well, then they won't, and so reputation and results mutually inform each other and maintains pretty much a stasis.