Rankings and the reconstruction of knowledge during the age of austerity

Abstract

The severity of the ongoing global economic crisis and the continuing shift to the knowledge-based economy have put considerable pressure on higher education to play a greater role in national economic recovery, and to demonstrate greater relevance to, and better value for, individuals and society. Despite commitments to/for institutional autonomy, there is increasing evidence of greater government steering and regulation of the higher education and research system. In some countries, there is growing emphasis on higher education as an arm of industrial/economic policy rather than its attributes for human capital development. Some governments are able to invest heavily or at least retain their level of investment (often as part of stimulus) in higher education and R&D] while others face serious financial strain. The rising influence of global rankings has drawn the world’s attention to disparities, while at the same time making the higher education world immediately more competitive and multi-polar. As a result, there is evidence of a widening gap in ‘world-classness’ between nations and institutions. There are several aspects to this dynamic.