The fatal conceptual error involved in the new university funding system introduced in Britain in 2012 is that it treats the fee as a payment by an individual customer to a single institutional provider for a specific service in the present. By contrast, the proper basis for funding education is a form of social contract whereby each generation contributes to the education of future generations. It cannot be for a specific service because the ‘customer’, in the form of the student, is not in a position to know in advance exactly what benefit they may obtain from a university education. And it
...more

