Constructing an Estimate of Academic Capitalism and Explaining Faculty Differences through Multilevel Analysis

Two broad influences have converged to shape a new environment in which universities must now compete and operate. Shrinking financial resources and a global economy have arguably compelled universities to adapt. The concept of academic capitalism helps explain the new realities and places universities in the context of a global, knowledge-based economy (Slaughter & Leslie, 1997). Prior to this theory, the role of universities in the knowledge economy was largely undocumented. Academic capitalism is a measurable concept defined by the mechanisms and behaviors of universities that seek to generate new sources of revenue and are best revealed through faculty work. This study was designed to create empirical evidence of academic capitalism through the behaviors of faculty members at research universities. Using a large-scale, national database, the researcher created a new measure—an estimate of academic capitalism—at the individual faculty member level and then used multi-level analysis to explain variation among these individual faculty members. This study will increase our understanding of the changing nature of faculty work, will lead to future studies on academic capitalism that involve longitudinal analysis and important sub-populations, and will likely influence institutional and public policy.