| Abstract: |
The simplest rationale for the existence of a publicly funded university is
that it provides some form of public good. If all the outputs of a university
were privately owned, and privately appropriable, there would be no need for
public funding. Either firms would fund the research and training which could
be internalized by themselves, or students could fund the teaching through
higher future earnings. Consequently, one way to pose the issue of the future
role of universities is to ask what public goods they can provide that cannot
be provided in other ways..... |