Academics in UK universities are being undervalued to the tune of billions of pounds because the sector is “operating in a state of extreme market failure”, according to a damning analysis.
The report, which estimates the “true economic value” of higher education in the country, says staff are “taking the brunt” of a system that is “completely out of kilter”, mainly because domestic tuition fees and research income do not reflect the value of what universities produce.
It warns that without action to address these fundamental flaws, the sector will face a brain drain of top talent and a slide into mediocrity compared with other higher education systems around the world.
