ABSTRACT
This chapter begins with a discussion of the meanings of such expressions as public good, diversity and excellence before exploring how these can be interpreted through the prism of risk. It examines the theoretical constructs that have been employed in this debate and how they have been reported. The chapter focuses on the Financial Times which has reported extensively on the debate and where broadly, but not exclusively, there was a general support for the introduction of variable top-up fees as a means of increasing the revenue base of universities. It is useful to begin with the issue of what constitutes a public good because it provides an illustration of the manner in which words and ideas are always in evolution so that they can reflect the nature of contemporary political debate. Analysing the nature of the risk positions that have been adopted by government policy-makers in part, depends upon whether diversity and excellence are treated together or separately.
