The central planning, monopoly of public ownership, philanthropic organisation model, lack of domestic and international competition failed to develop quality, equitable and cost effective education system for one sixth of humanity. Indian education system’s failure is not due to half-hearted attempts or lack of political-will but faulty organisational model, weak structural design which denied proper incentive for all stake holders and neglect of free market principles

https://www.google.co.in/url?sa=t&rct=j&q=&esrc=s&source=web&cd=31&ved=0ahUKEwiFjLmW1NnKAhUQjo4KHUaVDlQ4HhAWCBowAA&url=http%3A%2F%2Fwww.skoch.org%2Fskoch.org%2Fwp-content%2Fuploads%2F21st_TWF%2Fpapers%2FMinimum%2520Government%2520Maximum%2520Governance%2520in%2520Education.docx&usg=AFQjCNGQKYcrUg9sZi0icpquBHVuOO5I4g&cad=rja

So George are you saying that such policies are causing the quality of education to decrease? In what sense? Is this happening in your institution, which part of the world are you referring to? 

"Free" market approaches to the higher education will lead to the same problems as now experienced in the world economies. One of them is the widening gap between the "rich"  institutions (Oxford, Princeton, etc.), who keep high standards of education and attract best talent , and many poor institutions who have to lower their educational standards in order to survive. 

Thanks guys for all the contributions. Here in Malaysia we see familiar patterns that is worrying....

Involvement of non- university (business, industry, potential employers) in the design, implementation and evaluation of courses and curricular.

When I was a visiting professor at one of the elite universities in Japan about a decade ago, I noticed the reluctance to fail non-performing students (which provided me with some headaches) ... but the profit-motive is everywhere else to the fore now! I am spending significant time in Indonesia at the moment, and developing or advising on e-Learning modalities, but the crassness of the profit motive is even more apparent here!

The flaw is in-built to the entire raft of the educational enterprise ... by looking for singularity and "personal" excellence, my ego is continually being strengthened ... being part of a team, indeed being owner/partner of One Mind, is anathema to those pushing "individual" achievement! So even in a thousand years from now, we will try to seek for distinctions, and then some contrary impulse will rein it in again, supposedly leveling the playing field (access, equity, etc.) ... the entire system is built on quibbles and quick-sand, alas ... :)

How true, such instances are not uncommon in Malaysia especially among private higher education institutions. When students do not perform ,we even have parents knocking on our doors demanding that they do better but I have personally been strict but not many bother to defend academic quality within their respective institutions. I believe when students are equated as customers, the power lies in the buying hence they believe I'm paying for it, so I should receive what I need and want according to payments rather than the quality I'm dishing out.  I feel it is dividing the gap further rather than leveling it. Only difference is there is more options for students these days in terms of where to study. It is of course better in the universities as compared to the colleges, hands down.

Knowledge itself is growing ever more specialized and expanding exponentially. Information and communication technology is transforming how we learn and the nature of how work is conducted and the meaning of social relationships. Shared decision-making, information sharing, collaboration, innovation, and speed are essential in today’s enterprises.

No longer can students look forward to middle class success in the conduct of manual labor or use of routine skills – work that can be accomplished by machines or easily out-sourced to less expensive labor markets. Today, much success lies in being able to communicate, share, and use information to solve complex problems, in being able to adapt and innovate in response to new demands and changing circumstances, in being able to command and expand the power of technology to create new knowledge.