Stratifying academia: ranking, oligarchy and the market‐myth in academic audit regimes

This historical materialist analysis places rankings into the imperatives both to govern and to accumulate, and positions academic ranking in particular as the telos of a more general audit culture. By identifying how rankings effect not merely a quantification of qualities, but a numeration of quantities, we can expose how state governments, managerial strata and political elites achieve socially stratifying political objectives that actually frustrate the kind of market‐ rule for which rankings have been hitherto legitimised among the public. The insight here is that rankings make of audit techniques neither simply a market proxy, nor merely the basis for bureaucratic managerialism, but a social technology or ‘apparatus’ ( dispositif ) that simultaneously substi- tutes and frustrates market operations in favour of a more acutely stratified social order. This quality to the operation of rankings can then be connected to the chronic accumulation crisis that is the neoliberal regime of political economy, and to the growing political appetite therein for power‐ knowledge techniques propitious for oligarchy formation and accumulation‐ by‐ dispossession in the kind of low‐ growth and zero‐ sum envi- ronment typical in real terms to societies dominated by financialisation. A dialectical approach to rankings is suggested, so that a more effective engagement with their internal and practical contradictions can be realised in a way that belies the market‐ myths of neoliberal theory.