English universities are in crisis. In 2017the National Audit Office found that only 32% of students consider their course'value for money', that students from lower-income backgrounds aredisproportionately attending lower ranked universities, and that there islimited price competition and a limited return to universities for improvingtheir league standings.

This book provides a concrete analysis of why the recentfunding reforms did not work, using a unique combination of informedtheoretical and empirical analysis and insights gained from running auniversity. It offers tough policy proposals concerned with how to make themarket work in universities by restoring competition and fair student fees, butalso traditional academic values and governance.