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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....

The globalization of the political economy at the end of the twentieth century is destabilizing the traditional patterns of university professional work. One of the major changes that has taken place as a result of globalization is that faculty, who were previously situated between capital and labor, are now positioned squarely in the marketplace. To grasp the extent of changes taking place and to understand the forces of change, Academic Capitalism examines the current state of academic careers and institutions, with a particular focus on public research universities in the United...

Today, nearly every aspect of higher education--including student recruitment, classroom instruction, faculty research, administrative governance, and the control of intellectual property--is embedded in a political economy with links to the market and the state. Academic capitalism offers a powerful framework for understanding this relationship. Essentially, it allows us to understand higher education's shift from creating scholarship and learning as a public good to generating knowledge as a commodity to be monetized in market activities.

In Academic Capitalism in the Age of...