A recent article in the last edition of The Economist expresses admiration for the idea that universities are not contributing to incessant growth in productivity. https://www.economist.com/finance-and-economics/2024/02/05/universities-are-failing-to-boost-economic-growth
However, This premise would already demonstrate ignorance if it had been produced a dozen years ago. Immediately evident is the author's lack of recollection or thorough research, as a simple review would reveal that in 2022, The Economist published an article highlighting that even the most affluent universities on Earth lacked the necessary funds to develop supercomputers, leaving them trailing behind in the rapid advancements made by technology-driven companies. The sentiment expressed was that academic institutions were struggling to keep up with the pace of innovation-"Academic institutions can no longer keep up” https://pachecotorgal.com/2022/06/15/academia-at-the-gates-of-technological-irrelevance/
However, the article exhibits a notable ignorance in light of the emerging landscape shaped by the proliferation of omnipresent generative AI, poised to redefine our existence. With the advent of these technologies—potentially becoming omniscient and omnipotent in the near future, as explored in a related post—it underscores the imperative for universities to reassess their mission https://19-pacheco-torgal-19.blogspot.com/2024/01/the-economistai-generated-content-is.html
Given the evident struggle of universities to keep up with the technological pace set by companies, a pertinent question arises: When will the academic sector transition from emulating industry practices to concentrating on realms the industry either cannot, is unwilling to, or deems unprofitable? This question, posed in 2022, served as the title of a post, urging a reconsideration of the role and mission of universities in a rapidly evolving technological landscape. https://pachecotorgal.com/2022/06/14/when-will-academia-stop-focusing-on-what-the-industry-already-does-and-start-focusing-on-what-the-industry-does-not-want-or-cannot-do/
The closing statement of The Economist magazine article is marked by a particularly ignorant assertion: "In a world of weak economic growth, lavish public support for universities may come to seem an unjustifiable luxury." . Simply put, characterizing the dearth of economic growth as a significant problem and placing the blame squarely on universities is a stance that only those with a cynical or hypocritical mindset would embrace. The real concern, however, is the insufficient distribution of the plentiful benefits generated by economic growth. https://pacheco-torgal.blogspot.com/2019/12/can-190-million-usd-threshold-be.html
What makes this tragic is the irony that an unwavering pursuit of unlimited economic growth, purportedly championed by universities, has brought humanity to the precipice of a climate apocalypse. Significant and pivotal in this context is an article authored by two professors—one from a university in Finland and another from the United Kingdom—that I shared on my blog at the outset of 2022. This article outlines a "recipe", to navigate our way out of the consequences of unchecked economic growth that led us into an impending apocalypse. "...The triple conjuncture of climate change and ecological breakdown, global pandemic, and neoliberal economic globalization speak to a Great Implosion, and while the pandemic will eventually end, responses to it have created a precedent. Dramatic action is now urgently needed by all—from governments, financial entities, corporations, communities, households, and individuals...without it our nightmares may become realities"
