The ascendance to popularity of the liberal ideologies and the concepts of political economy of education will be put forward as the root cause for an increasing subordination of education objectives to national economic goals. Through a case study of the educational development of Hong Kong, this paper will evaluate the extent to which educational planning and policy decision should be guided by economic considerations. Although the rapid economic growth of Hong Kong and the rapid expansion of its education system in the past decades took place in parallel, there is no evidence that Hong Kong's economic success is directly brought about by its education. It will be concluded that apart from economic contributions, education has its own intrinsic values. While economic considerations are useful for planning and policymaking at a macro level, it may not be appropriate to indiscriminately apply economic principles in an intrusive way to direct the priorities of institution management and classroom teaching.
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The present paper attempts to assess the link between economic factors and the private demand for higher education through an investigation of the findings of relevant studies. After an examination of the various methodologies adopted by different authors in the estimation of the perceived rate of return to higher education, the main findings of available studies conducted in several countries (UK, the Philippines, Egypt, Hong Kong, and Cyprus) are discussed and compared. The main conclusions drawn from this comparison are the following: First, the perceived rates of return to higher education are, for the most part, very realistic, indicating an accurate perception of the economic benefits of higher education on the part of students. Second, non-economic factors, such as gender, ability and socio-economic background, appear to constitute strong influences on the private demand for higher education, which educational policy makers should take into account, along with the economic variables. Finally, it is suggested that the methodology discussed in the present paper can be used in the future to estimate the perceived profitability of higher studies at different institutions and countries offering higher education.
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It has been suggested that although the most theorisation about globalisation has emerged from western contexts, the material implications of globalisation have been felt most strongly in non- Western regions. With this in mind, the authors undertake a situated analysis of how two states, Singapore and Hong Kong, are interacting with the broader processes of globalisation through their educational policies. Foucault's conceptual tool of governmentality is used to understand (i) the conduct of governing in the contemporary nation- state, and (ii) how the right rationalities are being inculcated by government to create desiring subjects who will play their part in ensuring national prosperity. The Asian economic crisis is used as a point of departure to show how global local tensions are being managed by Singapore and Hong Kong. The article concludes that both these global cities have adroitly managed the Asian economic crisis to steer their citizens away from pursuits of greater political freedom and towards concerns of material well being. They have done so through a selective interpretation of globalisation, by simultaneously resisting and embracing the contradictory strands of globalisation. Education has emerged as a critical space for this selective absorption of globalising trends.
[Copyright of Asia Pacific Journal of Education is the property of Routledge. Full article may be available at the publisher's website:
http://dx.doi.org/10.1080/0218879030230104 ]