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This book traces the development of a fully marketised higher education system in England over a 30-year period, and identifies five distinct stages of market reforms culminating in the Higher Education and Research Act (HMSO, 2017). The Act shifted the risks of institutional failure (and the prospect of market exit) onto applicants, presenting them with ever more applicant choice information and encouraging them to use their consumer behaviour to oblige weaker providers’ lower tuition fees or lose market share to new competitors. The new regulatory regime represents a marked departure from...