Globalization provides a new framework for thinking about higher education. Its implications are severe and long-lasting, both for higher education institutions and for their faculty. Even though its impact is still relatively slow, it undermines the two fundamental assumptions behind the modern institution of the university: its nation-state inspiration and its welfare-state support. Globalization adds also two new dimensions which can no longer be ignored in thinking about higher education today: the distrust to the public sector in general and the increasing reliance on corporate culture and economic rationality in new social domains. If changes brought about by globalization processes are as deep as they seem now, its impact on the academy may be tremendous and it may change the nature of the institution beyond recognition.
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