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The hemorrhaging of Australia’s university sector
Australian universities are set for what might be the most calamitous academic year of their institutional lives, according to Business Insider Australia.
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Isn’t the intended point that Australian universities did not ‘hedge their bet’ on international student revenue?
But, did they or didn’t they? Arguably a lot of them did, in so far as they invested—some very heavily—in real estate and downtown property development.
Rather than liquidating their real estate assets, Australian universities are purging staff. The loss of human and cultural capital seems to be an up-scaled continuation of previous purges rather than an abrupt new measure. The people are going and the buildings for the large part are empty, in a ghastly real life dramatisation of the type of assault that was once conceived in the popular imagination as the impact of a neutron bomb.