This article addresses the increasing encroachment of technical rationality in higher education, in the form of the Social Market Model (SMM) ideology. Such a situation is leading to an erosion of liberal education values and has resulted in a consumption production technology which treats colleges as production units. This assault on academic rationalism has also favored the most privileged with scarce scholarship awards given that the higher the socio-economic status of students and their families the higher the academic achievement leading as it does to the ultimate "survival of the richest" in North American educational settings.