In the modern world education is not just a requirement and moral value, but also an expensive market product. One of the major characteristics of modern education is the directly proportional relationship between the age of educational institution and its value. While other market products value innovation and complete change and modernization of the portfolio, education values proposition based on the conservative and tested system that is checked and evaluated through years. Thus, when we talk about modern education, we assume combination of technological developments and conservatives of old and traditional educational institutions.
Let us look at such sound names as Harvard, Oxford or Cambridge. The name is the prestige that a lot of people trying to get and this reputation makes these universities attract the best intellectuals from all over the globe. Educational system puts a lot of efforts to keep traditions and conservative elements of the educational process.
On the other hand, progress makes it a necessity to implement new technological advancements available on the market to enhance learning process and take the most out of innovative educational solutions. This contrast and cooperation of modern technologies and traditional education can be evidenced even in the architecture of universities: when you enter the old buildings with long history and see computers and systems that coordinate and direct education.
Anyway, modern education as a market product offers a lot of newer and less traditional universities that position themselves as fresh and innovative alternative to the old and “stagnated” institutes that are no longer the best. These newborn educational systems create significant competition to the traditional education and, consequently, contribute towards generating of natural competition and progress in modern education. One of the negative consequences of this competition is commercialization of the education and growing price for good name that will open doors to the career development.