This chapter will raise questions about the morphology of the University of the Future and whether creative visioning has been eclipsed by pressing concerns and tensions in the present. It will also consider whether the University of the Future might also be seen as the University of the Past. The global economic recession means that higher education could move from expansion to contraction, with a reinforcement of social hierarchies and privilege. Opportunities for participation could become spaces of closure in the emerging austerity economy and creeping privatisation.