Satish Tandon (2005), in his article Globalization: Impact on Education, explained the size or depth of corporatization and the profits earned by the corporate companies from the academic world in America.
One of the major consequences of the globalization of education has been commodification and the corporatization of institutions of higher learning. It is said that the for-profit education market in the United States is worth more than $500 billion in revenue for the involved corporates. More than one thousand state schools have been handed over to corporations to be run as businesses (Tandon)
Before the entry of globalization, education was considered as a sacred act because of the immense benefits it provides to a person in his life. Educators or teachers were respected highly in the society because of the services they were giving to the society for making better future generation. However, the whole concept of education has been changed a lot over the last few decades, especially after the introduction of globalization. Today, like most of the other segments of human life, commercialization has entered the educational sector also. All the schools and colleges are currently focusing more on maximizing their profits rather than providing quality education to the students. Corporatization is not a myth, but a fact at present in educational sector. ...Show more