The Indispensable University: Higher Education, Economic Development, and the Knowledge Economy

(Paperback)

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The Indispensable University describes the innovative transformation of institutions of higher education (HEIs) across the world, in response to the emerging realities of the twenty-first century global knowledge-based economy, as well as describes how HEIs are defining many of today's economic realities on a regional level. HEIs continue to drive economic development through their traditional roles of purchaser, employer, real estate developer, workforce developer and community developer. But these roles now must be executed more strategically and collaboratively. Also, the twenty-first century economy offers universities unique opportunities to generate the intellectual and financial capital that drives emerging knowledge-based industries.
Case studies are drawn from: urban America; rural America; Europe; the Middle East; and emerging countries. Some of the topics covered include the following: the role of university presidents as change leaders; the relationship between higher education institutions and the political leadership of cities, states, and nations; successful models of partnerships between higher education and the private sector; and future challenges and opportunities facing the modern university.

Reviews

Indispensable Universities addresses timely and increasingly universal issues in ways that seem to me to be accessible to audiences whose members need the reasoning and information that is provided. It has been a pleasure to read and reread the manuscript. It is imaginative and informed and it has gravity. Its evidentiary basis is solid. It reflects the sound of two wise men talking about matters on which they are utterly qualified to speak. Not many books can claim to do that. I can imagine this book as the kind of standard work that university leaders as well as state and federal policy makers will have to read. -- John T. Casteen, III, president, University of Virginia
A fine book. Without committed and clearly active presidents/chancellors the important transformative potential of universities in their regional/global contexts cannot be realized. What is especially key here is the ways in which the university is placed in the 'knowledge economy.' Perhaps the best thing about President Trani's book is its full-throttle normative assertion of the 'indispensable' role of the university. It is the argument of passionate higher education advocates. Indispensable Universities is more a policy essay and report from the field of the political economic struggles for the relevance and best practices of twenty-first century higher education. -- David C. Perry, director of the Great Cities Institute; professor of urban planning and policy, University of Illinois at Chicago
A terrific read, and I'm sure that it will become a standard work on both sides of the Atlantic. I found it full of insights as well as offering many telling examples. We'll certainly have it on our MBA reading list. -- Paul Temple, Centre for Higher Education Studies, the Institute of Education, University of London
A most exhaustive and informative text, and likely to be very helpful to all presidents interested in promoting economic development and community engagement; Opening chapters are a documented set of arguments; the references are extremely helpful. Best of all are the case studies. The book makes powerful points and then backs them up with well grounded case studies. Precisely the institutions I would have selected as exemplars within their distinctive missions; I loved chapter four on the history of the landgrant mission. Also the references to the full array of postsecondary education, and especially community colleges, was very insightful; The organization of the book is thoughtful as well, and a very easy read. -- Nancy L. Zimpher, Chancellor Emeritus, State University of New York
Eugene P. Trani is convincing in his argument that universities should be economic drivers in their regions....The book weaves together case studies and best practices about higher education from well-known urban and land-grant universities and community colleges. -- Tom Silvestri * Richmond Times-Dispatch *
The book is very interesting and informative. It's a good read! College administrators will learn much from the content of this book. It contains many thoughtful insights and perspectives on the modern university. -- Roderick J. McDavis, president, Ohio University
Recommended. * Choice Reviews *
An interesting, insightful, and notably wide ranging discussion of what they see as a key aspect of modern higher educationits role in community and economic development. * Journal of Higher Education *
The core issue in this volume addresses several perspectives on how to reposition higher education institutions to realize the maximum potential by catalyzing economic development for both the institution and the surrounding community and region. The authors presented a clear and easy-to-follow methodology, primarily focusing on public institutions....The authors presented a well-written and clearly organized model on the value of colleges and universities to their communities....The readers most likely to benefit from The Indispensable University are senior level administrators searching for methods to build regional economic strategies and promote distinctiveness for the institutions. In fact, this book should be recommended reading. * International Journal Of Educational Advancement *

Author Bio

As the fourth president of Virginia Commonwealth University and the president and chair of the board of directors of the VCU Health System, Eugene P. Trani positioned the university as a key driver in regional and statewide economic development. Currently president emeritus and university distinguished professor at VCU, Trani has authored, co-authored, annotated, and edited eight books and published more than one hundred articles and op-eds, including two major books on foreign policy.
Robert D. Holsworth was the founding director of both the Center for Public Policy and the Wilder School of Government and Public Affairs at Virginia Commonwealth University. He has authored or co-authored five books and numerous articles on American politics and public policy. His observations on national and Virginia politics have appeared in The Wall Street Journal, The Washington Post, The New York Times, and numerous other media. He runs the non-partisan political Web site VirginiaTomorrow.com and is a principal in two research and planning groups.