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Richard Münch

Academic capitalism is a unique hybrid that unites the scientific search for truth and the economic maximization of profits. It turns universities into enterprises competing for capital accumulation and businesses into knowledge producers looking for new findings that can be turned into patents and profitable commodities. To understand what this new institutional setting means for science and the evolution of scientific knowledge, science as a field in a Bourdieusian perspective, which operates in the tension field between autonomy and heteronomy, is explored. On this basis, crucial features of academic capitalism and their impact on science as well as the evolution of scientific knowledge are described. Academic capitalism is located in the zone of the intersection of scientific research, economic profit maximization, and innovation policy. The institutional conflicts of interest involved in the corporate funding of academic research are addressed. The logic of academic capital accumulation is spelled out by describing the entrepreneurial university. Field effects of academic capital accumulation on science, namely increasing inequality, over-investment at the top, and under-investment among the rank and file are examined, along with the organizational effects of academic capital accumulation in terms of tightened managerial quality assurance on diversity and creativity as crucial prerequisites of advancing scientific knowledge. The main results of the analysis are summarized and some guidelines for future research are presented.


Gerardo del Cerro Santamaría

Neoliberalism—the prevailing model of capitalist thinking based on the Washington Consensus—has conveyed the idea that a new educational and university model must emerge in order to meet the demands of a global productive system that is radically different from that of just a few decades ago. The overall argument put forward is that the requirements, particularly the managerial and labor force needs of a new economy—already developing within the parameters of globalization and the impact of information and communication technologies (ICTs)—cannot be adequately satisfied under the approaches and methods used by a traditional university. Neoliberalism affects the telos of higher education by redefining the very meaning of higher education. It dislocates education by commodifying its intrinsic value and emphasizing directly transferable skills and competencies. Nonmonetary values are marginalized and, with them, the nonmonetary ethos that is essential in sustaining a healthy democratic society.