How Neoliberal Globalization Directs Higher Education

Abstract

On the basis of the seminal paper presented at the International Conference on Taiwanese-Vietnamese Education in 2013, the authors further present how neoliberal globalization directs higher education. The purpose of the authors in this chapter is to critically analyze the complex interplay between neoliberal globalization and the employment prospects of graduates from universities and colleges. Revisiting the concept of relative advantage for division of labor, they delineated the neoliberal theory of globalization. Within this framework, they employed the Heckscher-Ohlin model and Stolper-Samuelson theorem to argue that if countries follow the relative advantage doctrine, the value of higher education will decrease in a developing country such as Vietnam. Neoliberal globalization therefore presents significant implications to the accumulation of human capital. If taking these implications seriously, individuals, higher education institutions, and policymakers can figure out better schemes to invest in higher education.