Reflecting on the Roles and Responsibilities of University Faculty and Management
Edited by Roger Sugden, Marcela Valania and James R. Wilson
Chapter 12: Funding higher education in the great recession: an international perspective
This chapter focuses on the funding of higher education (HE) during a period of almost unprecedented fiscal austerity. The financial crisis of 2007 and the associated problems of sovereign debt have placed governments, particularly those in Europe and the United States, under huge fiscal pressure. Many have responded, probably unwisely, by introducing fiscal packages comprising a mixture of higher taxes and lower government spending. This strategy is being followed even though the evidence that fiscal austerity will reduce government indebtedness in the short run is very limited. In some countries, lower public spending has led to reduced government support for HE. Stakeholders are now struggling to respond. There is now greater pressure for ‘cost sharing’, where the costs of HE do not entirely fall on the taxpayer, but are shared with other stakeholders including students and alumni.
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