Tracing the roots of the modern American University in German philosophy and in the work of British thinkers such as Newman and Arnold, Bill Readings argues that historically the integrity of the modern university has been linked to the nation-state, which it has served by promoting and protecting the idea of a national culture. However, now the nation-state is in decline, and national culture no longer needs to be either promoted or protected. Increasingly, universities are turning into transnational corporations, and the idea of culture is being replaced by the discourse of excellence. The author cautions, however, that we should not embrace this techno-bureaucratic appeal too quickly. The new "university of excellence" is a corporation driven by market forces, and, as such, is more interested in profit margins than in thought. Readings urges us to imagine how to think, without concession to corporate excellence.