As colleges and universities become more entrepreneurial in a
post-industrial economy, they focus on knowledge less as a public
good than as a commodity to be capitalized on in profit-oriented
activities. In "Academic Capitalism and the New Economy," higher
education scholars Sheila Slaughter and Gary Rhoades detail the
aggressive engagement of U.S. higher education institutions in the
knowledge-based economy and analyze the efforts of colleges and
universities to develop, market, and sell research products,
educational services, and consumer goods in the private
marketplace.
Slaughter and Rhoades track changes in policy and practice,
revealing new social networks and circuits of knowledge creation
and dissemination, as well as new organizational structures and
expanded managerial capacity to link higher education institutions
and markets. They depict an ascendant academic capitalist
knowledge/learning regime expressed in faculty work, departmental
activity, and administrative behavior. Clarifying the regime's
internal contradictions, they note the public subsidies embedded in
new revenue streams and the shift in emphasis from serving student
customers to leveraging resources from them.
Defining the terms of academic capitalism in the new economy,
this groundbreaking study offers essential insights into the
trajectory of American higher education.
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