Bridging the Gap between the Abundance of American Higher Education Talent and the Immense Foreign Demand for It: The Great Chasm in Global Education

About the Author\nRichard J. Joseph, Former President and Chief Executive Officer, Babson Global, Inc.\nRichard J. Joseph is the former President of Babson Global, Inc. Previously provost, dean, professor, and accreditor, he played a major role in establishing U.S. branch campuses in Shanghai, Dubai, London, and San Francisco. He also helped build academic institutions in the Middle East, Southeast Asia, and Latin America. A graduate of Oxford University, The University of Texas School of Law, and Harvard College magna cum laude, he is co-editor of the Handbook of Mergers and Acquisitions (Oxford University Press). He has written numerous commentaries in the Financial Times, The Christian Science Monitor, and various professional publications.\nThe gap between the abundance of American higher education talent and the immense foreign demand for it is the great chasm in global education. It is a gulf of lost opportunities. It is also a space of great economic potential. This book describes the great chasm, examines factors underlying it, and suggests ways to bridge the gap to realize this potential.\nThe abundance of talent stems from the slackening growth of the U.S. higher education sector in the New Millennium. Contributing to the slowdown are flat enrollments, adverse demographic trends, U.S. visa restrictions, and intensifying competition. The immense foreign demand has been fueled by the secular expansion of the global economy. It has been shaped by the pressing need in emerging markets to develop an educated workforce.\nThe great chasm creates an opportunity for American academic institutions to extend their global reach. Bridging the gap, however, is not an easy feat for most U.S. colleges and universities. It is complicated by an institutional culture that is averse to commercialization, an organizational structure that is operationally slow, and a governance system that often leads to indecision, conflict, and paralysis. Bridging the gap requires fundamental changes in the culture, organization, and governance of traditional U.S. academic institutions. These changes will pave the way for international expansion, which could enhance the financial well-being of these institutions, the social-well-being of less developed nations, and the critical role that America plays globally in knowledge creation, the dissemination of ideas, and the pursuit of the truth.