When the global financial crisis hit in 2008, it looked at first as if many European universities were going to escape the worst. Higher education has long been considered a public right and a taxpayer-financed obligation, and there was optimism that universities, which government leaders hail as drivers of economic growth, would emerge relatively…

The prevailing view among leaders in the university community is that America is not investing enough in higher education. A recent survey of the American economy by the Organization for Economic Cooperation and Development (OECD) echoed that concern. After all, college graduates are dramatically more productive than those without higher education…