The crisis has shaken economics to its foundations. The neoliberal mainstream has lost its support; economists alternate between self-doubt and arrogance. Once they believed in the rationality of economic actors and markets and the notion that financial management exists to serve the real economy.
The tuition controversy is neither an isolated case nor caused by economic factors. Instead, it stems from deliberate top-down political decisions to gradually implement part of a wider agenda--the privatization 1 of public higher education, as has already occurred in California, in the continued unfolding of a worldwide, anti-democratic process of corporate empire building called globalization.