This chapter begins by tracing the diverse histories of emergence and evolution of higher education in different parts of the world. Implications of emergence of the western, research-driven model as the superior system are discussed. The effects of world-class-university anxiety on the relationship between teaching and learning are addressed. Departing from an overwhelming emphasis on neoliberal globalisation as the root cause of the current crisis facing universities, this chapter argues for a reassessment of how universities view themselves and understand their purpose and mission. In the foreseeable future, the continuing success of universities will depend on developing an awareness of all existing models and making an attempt to learn from each other, investing significantly in serving local communities and creatively meeting the challenge posed by online education by going back to the basics and redefining how they add value. The chapter is titled Anitya to signify that while change creates uncertainty, it is also the harbinger of an opportunity for introspection, reinvention, and spiritual transformation.
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