Current debate on higher education in Britain is focused on its instrumental functions and largely ignores its social and cultural value. This paper considers the "idea of the university" in an historical perspective and critically examines current policy discourse while identifying robust alternatives to the utilitarian argument. It proposes, speculatively, the notion of "cosmopolitanism", as defined by critics of pluralism and postmodernism, as a more meaningful starting point for philosophical and policy discussions. (Contains 3 notes.)