This paper argues that involvement in higher education policy research and development is important for college faculty since not doing so leaves the field to others who may not exhibit sufficient objectivity or adequately emphasize the goals of understanding, effectiveness, and efficiency. First, it identifies some general problems of policy arenas, such as oversimplification of complex problems, interest-group activity, undue power of dominant personalities, shifting focuses of attention, scarce resources, and changing social and economic contexts. Following, examples of campus-based policy investigations in the area of higher education finance are cited. The paper concludes that academics doing good policy-related research on higher education need to be connected to government and administrators with more direct policy responsibilities. (Contains 11 references.) (DB)