The Onslaught of Academic Capitalism in the Neoliberal Knowledge Economy: From a Philosophical Discussion to a Philosophical Exploration for South African Universities

Abstract

This paper critically examines the entrenchment of academic capitalism in South African universities within the broader neoliberal knowledge economy. Using case studies of three South African universities, it explores how market-driven imperatives have reshaped knowledge production, governance, and academic labor. By engaging with neoliberal and academic capitalism discourse, the paper interrogates the tensions between knowledge as a public good and its commodification. In a post-apartheid South Africa where fair access to education is still a major concern, the commodification of knowledge undercuts the long-standing function of universities as repositories of public knowledge and democratic engagement. The demands of global ranking and the need for financial viability, alongside the obligation to promote the general welfare, draw attention to the ways that commodification worsens inequality by giving marketable research and elite collaborations precedence over studies that focus on the community. This research highlights the inconsistencies in neoliberal higher education reforms and advocates for rethinking alternatives that put social justice and epistemic diversity first by elevating the voices of scholars, students, and politicians. Through an analysis of government policies and university-specific funding structures, this paper highlights the erosion of academic freedom, the rise of managerialism, and the marginalization of African epistemologies. It argues that while neoliberal restructuring has improved efficiency and global competitiveness, it has also deepened inequalities, restricted critical scholarship, and prioritized commercially viable research over socially transformative knowledge production. The paper concludes by proposing alternative governance models, funding approaches, and curriculum strategies that resist the full marketization of South African universities.