BENEATH the medieval cloisters and bleak 1960s campuses of Europe’s universities, the ground is trembling. For years, Europeans have talked of doing something about higher education, so as to prepare better for the “knowledge economy”. But lingering taboos—over tuition fees, private finance, or competition—have inhibited the timid and frustrated the bold. Now, however, there are the first stirrings of genuine change.
The shortcomings of Europe’s universities are well-known. Only two European universities (Cambridge and Oxford) are in Shanghai Jiao Tong University’s global top 20. Europeans spend an average of $10,191 per student, measured at purchasing-power parity, next to $22,476 in America. They devote only 1.3% of GDP to higher education, compared with 2.9% in America, and—unlike in America—almost all of it is public money. Only 24% of working-age Europeans have a degree, compared with 39% of Americans. And Europe bags an ever-declining share of Nobel prizes.