Education is the cornerstone of economic and societal progress, including personal development.  However it has increasingly fallen victim to the clutches of commercialisation.  What is a noble pursuit aimed at enlightenment and empowerment, has transformed into a lucrative industry, driven often by profit margins, rather than by genuine pedagogical principles.  The moneymaking sham in education can be seen at every level, from nursery to university, and beyond.  It is reshaping the landscape of learning in ways that prioritises financial gain over educational integrity.

One of the most glaring example of this is the proliferation of for-profit educational institutions, companies and groups, often owned by cut-throat financial organisations. These establishments highlight the importance of a “student first” approach, market themselves as beacons of learning, but often prioritise shareholder returns over student success.  This is not a reflection on all such groups of course. The commodification of education has led to many unnerving changes and practices all with a relentless pursuit of student admission numbers, all aimed at maximising income.

Moreover, the rise of online education platforms, exploded during and post-COVID, has further exacerbated the monetisation of learning.  While online education has the potential to democratise access to knowledge and many do it extremely well, it has also become a breeding ground for dubious schemes and exploitative practices. From crazy course fees to misleading marketing tactics promising instant success, these platforms often prioritise sales over the quality of education delivered.  Then again, why wouldn’t they? It’s a business!  Tread carefully.

Textbooks are a particular source of agony for many schools, students, and families.  Textbook prices have increased in recent years, far outpacing the rate of inflation, and placing a heavy financial burden on students and schools.  Publishers frequently release new editions with minor revisions, rendering older versions obsolete and forcing students to purchase costly updates.  Furthermore, the commercialisation of education has seeped into the realm of academic research.  In an era where publications are currency, predatory journals and conferences prey on unsuspecting scholars, charging exorbitant fees for publication without providing adequate peer review or editorial oversight.  

Addressing the moneymaking sham in education requires a multifaceted approach.  Of course, businesses are well within their rights to sell products and make money.  It is up to the user and buyer to determine whether the product is sound.  Does it really work?  Is it a fad?  Do your research, ask for evidence and be sure.  

Charles Goodhart stated that, “When a measure becomes a target, it ceases to be a good measure”(Goodhart’s Law).  I would argue Education has become a target in many aspects and as such, there is a clear opportunity for individuals to cash in and who are we to stop them, or criticise.  That is the beast that has been created!

Thus, ultimately, the moneymaking sham in education is a symptom of deeper societal ailments, the commodification of knowledge, the prioritisation of financial gain, and the erosion of public trust.    

The idealists would love education to remain a beacon of enlightenment and empowerment for generations to come, however, maybe that possibility no longer exists?

Yasir Patel