The institutions of higher education are of fairly recent vintage and came to be what they were for good historical reasons. Then as now, they were part and parcel of the development of the modern state and of modern capitalism. These generating conditions have evaporated; the new conditions are now forcing a radical restructuring. In addition then to a restructuring of global capitalism (with attendant consequences for work and workers) and the stunning fiscal crisis of the modern state (which no longer can afford to subsidise higher education), new technologies make available a restructuring which can be legitimated (by employing the rhetoric of access and choice) and is far less expensive. Since I see no forces to prevent this, most post-secondary education in the advanced capitalist societies will be electronically delivered. `Brand name' residential campuses will not disappear but will be highly selective and available only for the few.