‘Private equity’s undisclosed business model is value capture through financial engineering focused on the enrichment of a managerial elite, with mass investors mainly involved in providing the cheap debt which makes the whole thing possible.’ Julie Froud and Karel Williams, Private Equity and the Culture of Value Extraction, New Political Economy, 2007
The focus is however mostly on the high profile xMOOC interpretations of Coursera, edX etc rather than on the more undercover collaborative MOOCs offered by networks of teachers.
Beneath the surface though, higher education is set to be subjected to more state interference and bureaucracy as part of yet another attempt to create a market as the TEF is set to allow institutions to link fee increases to inflation. At present, with inflation at 0% and hardly projected to soar in coming years, will the TEF actually reward and incentivise good quality teaching, or just provide another drain on the resources academics need?