The logic of the market

 
Closely tied to the rise of globalization and internationalization are multiple agendas, urged on by such events as the GATS negotiations. Such agendas are dependent on decisions reached in different areas of national life, in different fields of activity. They depend as well on the developments within varied global forums and multilateral bodies.

In this complex context, it is increasingly difficult to obtain a clear grasp upon developments that characterize the so called 'knowledge society'. The hegemony of neo- liberal ideology, grounded in the logic of the market, with privatization of the sphere of knowledge production as its advanced expression, has injected a perspective whereby current issues tend to be discussed largely in terms of managerial values and practices. In this setting, issues reduce to the economic aspect alone. They focus on the ‘end application’, on manpower training for employability and on wealth creation, spurred on by criteria of efficiency and by a market-driven rationale. Discussion couched in broader terms of scientific ends and purpose, of long-term development that can be sustained and of society’s broader progress, figures little. Combined, the impact of complex processes involved in global transformation on the one hand and the orthodoxy of the ‘market perspective’ on the other, contributes powerfully to the belief that established political institutions are loosing their ability to exercise oversight and responsibility on behalf of the public. The university, as a key institution in the knowledge society, continues to be at the centre of debate. What is the role of the university in the present-day context of global economics and politics? Where is knowledge produced? By whom? For whom?