The world’s leading universities and research institutes are admirable places, responsible for training rising numbers of people and carrying out the basic and applied science and studies that shape the world. In some ways they are the guv’nor, leading the way to a brighter future and providing the rules for society to follow.

Universities, however, face three challenges: limits to their traditional funding source from the state and caps on tuition fees, competition from the internet, and the consequences of…

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