The Government of Ontario recently announced a comprehensive review of the design and funding of the province's post-secondary education system, chaired by former premier Bob Rae. The issues and opportunities confronting Ontario and Canadian research universities are by no means unique. Many industrialized countries have been forced over the last several years to respond to challenges in higher education.

In response to the Rae review, the University of Toronto convened a conference in December of 2004 to focus on the evolving role of the public university in industrialized...