Academic Capitalism Research Paper Example | Topics and Well Written Essays - 3000 words

Academic Capitalism - Research Paper Example It might range from production of knowledge that has been prepared by the teachers to the teachers’ curriculum as well as instruction (Rhoades & Sluaghter, n.d.). Hereby, the main objective of the paper is to understand the meaning of the term ‘academic capitalism’, theories related to academic capitalism, history of academic capitalism and its impact upon the teachers, students as well as the general US people. What is Academic Capitalism? Academic capitalism can be comprehended as the contribution of both college as well as faculties in ‘market-like behaviours’ which has gradually become one of the main characteristics of higher education in the United States. In the current day context, it has often been observed that colleges as well as universities, especially in the public sector, have not been capable of gaining adequate support from the side of the government. It is because of this reason that public colleges and universities are trying to prepare their targeted market and sell numerous products in the private sector as one of the main source of income with the motive of increasing the profit margin. In the present times, the higher-educational institutions such as colleges and universities are observed to be intended towards earning revenues by means of their core educational, research as well as service functions. ... The term intends to demonstrate the phenomenon of universities’ as well as the teachers’ high attention to market potential as a research momentum (Mazzolini, 1997). In this regards, academic capitalism has often been defined by the academicians as a philosophy that follows profit-generating attempts. While focusing upon marketplace and associating with the government, business, and industry, the profit earning initiative of the academic institutions can comprise of technical services along with personnel exchanges (Gumport, 2000). Academic capitalism is also defined as a systematic procedure which focuses on yielding the benefits of high quality training, the growth of e-learning offerings, rental facilities along with space, and the shifting of the resources from inactive tasks to ones which is more productive as well as efficient. It is in this context that by means of academic capitalism, the decision makers of academic institutions are endorsed to become more consc ious towards the market. Another virtue of academic capitalism is that it motivates the academicians to be more careful while allocating the resources ranging from traditional instructional tasks to the task of revenue generation (Tarance, 2002). The concept of capitalist academy seems to be quite contentious in nature since it is viewed as demanding conventional academic leadership forwarding the institutional resources towards the task of revenue generation and thereby shifting the institutional focus and leveraging the characteristic of academic work (Hanley, 2005). In the context of academic capitalism, students are the customers and colleges have become merchants. Along with it, the research conducted by them is being commercialised in various fields leading to new age in

Asian financial crisis of 1997 Essay Example | Topics and Well Written Essays - 3000 words

Asian financial crisis of 1997 - Essay Example the place and the fact that Thailand was already buried in debts that it could no longer hope to recover without any active and strenuous intervention from the international community. As the baht sank like a rock, it took with it the currencies of other neighboring countries. Malaysia and Indonesia were among the first casualties and the rest of the Asian countries followed. North Korea suffered an economic meltdown together with the rest of the nations in Asia. One of its biggest car producers, Kia Motors buckled down under the crisis. Kia Motors was one of the hardest hit companies during the crisis in Asia. On the other hand, The Philippines was also badly shaken during the Asian crisis. In fact, the value of the Philippine peso sank so badly that its value was almost zero. The once promising economy of the Philippines once again slumped down and threatens to a government that is already heavily laden with foreign debts. The Asian economic crisis happened just about 24 hours after the United Kingdom turned over the sovereignty of Hongkong back to China. Despite the economic turmoil and the uncertainty that had been brought about by the change of powers in Hongkong, the Hongkong banking system, with the strong backing of the China, survived the crisis but suffered some major losses. The economy because sluggish and save for the economies of Singapore and Taiwan that were able to withstand the onslaught in spite of some serious hits in passing, the rest of Asia was in a state of economic shock. The Asian economic crisis opens the eyes of the world of the volatility of the economy. The Asian crisis affected the entire world and triggered some economic difficulties even in the developed nations. To facilitate the economic recovery of the countries most affected by the crisis, major changes in the economic strategies and policies were instituted in the area (IMF 2000). Major changes in the business environment include the opening up of the economies of these