Academic Capitalism : Politics, Policies, and the Entrepreneurial University

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The global economy faces significant challenges - the increasing unemployment with low or no economic growth (, 2014). In this economic environment, the demand of employment of highly specialized knowledge is limited. Particularly to those hold a doctoral degree, the employment situation is even less optimistic, although to achieve such a degree usually takes a great amount of time and efforts. One of the factors is that the skills of “PhDs” are so specialized that they have difficulty to compete for jobs outside academia. Actually even inside of the academic field, there are still far insufficient faculty jobs for them. It is now more than ever that the PhD candidates shall understand the situation as well as expand
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The 2011 Triple Helix conference suggested the theoretical framework of the Triple Helix concept comprises three basic elements: (i) a more prominent role for the university in innovation, on a par with industry and government in a knowledge–based society; (ii) a movement toward collaborative relationships among the three major institutional spheres, in which innovation policy is increasingly an outcome of interaction rather than a prescription from government; (iii) in addition to fulfilling their traditional functions, each institutional sphere also “takes the role of the other” performing new roles as well as their traditional function. Institutions taking non-traditional roles are viewed as a major potential source of innovation in innovation. (Triple_Helix_Conference, 2011)
In additional, the institutional theory as “a widely accepted theoretical posture that emphasizes rational myths, isomorphism, and legitimacy” was expressed by (Scott, 2008). This theory constructed on systematic perspectives is distinguishable whereas not contradictory from the Triple Helix concept. It was later reviewed by (Bruton, Ahlstrom, & Li, 2010) that the foundations of institutional theory was summarized as 3 pillars in: (i) The regulative pillar intervenes the legitimately enforced and conscious aspect of institutions. It terms explicit the regulatory

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