The Economic Institutions of Higher Education: Economic Theories of University Behaviour

by Raines, J. Patrick; Leathers, Charles G.

• ISBN13: 9781840649918
• ISBN10: 1840649917
• Format: Hardcover
• Copyright: 2003-09-01
• Publisher: Edward Elgar Pub

Author Biography

Charles G. Leathers is Professor of Economics at the University of Alabama, USA.

Table of Contents

Introduction	p. 1
The Applicability of Economic Analysis	p. 3
Economics of Higher Education: Recent Studies	p. 4
Economic Perspectives on Universities' Behavior	p. 5
Modeling Universities' Decision-making Processes	p. 6
The Foundational Work of Adam Smith and Thorstein Veblen	p. 7
Organization of the Book	p. 10
Historical Development of Universities	p. 15
Medieval Universities	p. 17
The English Universities	p. 21
The Scottish Universities	p. 30
The New German Universities	p. 40
The Emergence of Modern American Universities	p. 44
Adam Smith on Failures of English Universities	p. 54
The Institutional Nature of Universities	p. 57
Smith's Criticism of Universities	p. 59
Proposals for Reform	p. 68
Incompleteness, Weaknesses, and Contradictions	p. 69
John Stuart Mill on Universities	p. 74
The Special Social Functions of Universities	p. 75
Why the English Universities Were Failing	p. 78
Mill's Economic Analysis of Universities' Failures	p. 80
Government Schools vs. Private Schools	p. 85
Veblen on Failures of American Universities	p. 90
The Social Importance of Knowledge	p. 92
The Social Functions of Universities	p. 94
Universities and the Principle of Institutional Specialization	p. 94
Evolutionary Development of Modern 'University Corporations'	p. 96
Institutional Failures of American Universities	p. 102
Transitional Statement	p. 119
Veblen's Economic 'Model' of University Behavior	p. 120
Universities as Non-Profit Corporations	p. 121
Endowed Institutions	p. 122
Identities and Motives of Discretionary Officials	p. 123
Modeling Institutional Behavior	p. 134
Institutional Drift and 'Proposals' for Reform	p. 138
Riesman on Veblen and Modern Universities	p. 144
Riesman's Critique of Veblen and the Higher Learning	p. 145
Riesman on Modern Universities: An Era of Faculty Dominance	p. 151
Riesman's 'Era of Rising Student Consumerism'	p. 158
The Buchanan-Devletoglou Economic Model of Universities	p. 163
The Taxpayers' Representatives: Governing Boards	p. 171
Students as Consumers Who Do Not Pay	p. 172
Control of Universities by Faculties Who Do Not Sell	p. 173
The Nature and Causes of Universities' Failures	p. 175
Lack of Competition	p. 180
The Crisis on Campuses	p. 181
Recent Economic Models of Higher Education	p. 186
Economic Models of Non-Profit Institutions	p. 187
Garvin's Economic Model of University Behavior	p. 189
The University as an Organization: The Prestige Objective	p. 191
Garvin's Formal Model	p. 201
Meeting the Challenge: Explaining the Emergence of 'Entrepreneurial Universities' and 'Academic Capitalism'	p. 210
First Phase	p. 210
Second Phase	p. 212
The Challenge for Economic Models of Universities' Behavior	p. 213
Overview	p. 213
The Emergence of 'Entrepreneurial Universities'	p. 214
The Consequences of 'Entrepreneurial' Research by Universities	p. 215
An Alternative View	p. 218
The 'Commoditization of Instruction'	p. 219
Explaining the Emergence of 'Entrepreneurial Universities'	p. 222
A Veblenian Perspective	p. 224
Smith and Veblen on 'Entrepreneurial Universities'	p. 227
Bibliography	p. 231
Index	p. 239
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