Abstract
What is 'New Capitalism'? The capitalist system has a well-documented capacity to sustain itself through major transformations. 'New Capitalism' refers to the new form of capitalism emerging from contemporary transformations. We can think of these transformations as simultaneously a 're-structuring' and a 'rescaling' (Jessop, 2000). A 're-structuring', in the sense that there are shifts in relations between different domains or fields of social life most obviously, between the economic field and other fields (including the political, educational and artistic fields), including a 'colonization' of other fields by the economic field. Witness what is happening to higher education. A 're-scaling', in the sense that there are shifts in relations between different scales of social life between social
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