9780674244238-0674244230-Markets, Minds, and Money: Why America Leads the World in University Research

Markets, Minds, and Money: Why America Leads the World in University Research

ISBN-13: 9780674244238
ISBN-10: 0674244230
Author: Urquiola, Miguel
Publication date: 2020
Publisher: Harvard University Press
Format: Hardcover 360 pages
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Book details

ISBN-13: 9780674244238
ISBN-10: 0674244230
Author: Urquiola, Miguel
Publication date: 2020
Publisher: Harvard University Press
Format: Hardcover 360 pages

Summary

Acknowledged authors Urquiola, Miguel wrote Markets, Minds, and Money: Why America Leads the World in University Research comprising 360 pages back in 2020. Textbook and eTextbook are published under ISBN 0674244230 and 9780674244238. Since then Markets, Minds, and Money: Why America Leads the World in University Research textbook was available to sell back to BooksRun online for the top buyback price of $ 2.27 or rent at the marketplace.

Description

A colorful history of US research universities, and a market-based theory of their global success.

American education has its share of problems, but it excels in at least one area: university-based research. That’s why American universities have produced more Nobel Prize winners than those of the next twenty-nine countries combined. Economist Miguel Urquiola argues that the principal source of this triumph is a free-market approach to higher education.

Until the late nineteenth century, research at American universities was largely an afterthought, suffering for the same reason that it now prospers: the free market permits institutional self-rule. Most universities exploited that flexibility to provide what well-heeled families and church benefactors wanted. They taught denominationally appropriate materials and produced the next generation of regional elites, no matter the students’―or their instructors’―competence. These schools were nothing like the German universities that led the world in research and advanced training. The American system only began to shift when certain universities, free to change their business model, realized there was demand in the industrial economy for students who were taught by experts and sorted by talent rather than breeding. Cornell and Johns Hopkins led the way, followed by Harvard, Columbia, and a few dozen others that remain centers of research. By the 1920s the United States was well on its way to producing the best university research.

Free markets are not the solution for all educational problems. Urquiola explains why they are less successful at the primary and secondary level, areas in which the United States often lags. But the entrepreneurial spirit has certainly been the key to American leadership in the research sector that is so crucial to economic success.

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