There is a degree of resignation in higher education circles that the system of funding undergraduate university places according to student demand may be on its last legs. This is not new. Hand-wringing about the sustainability of the so-called demand-driven system has been fashionable for some time. There is heightened scepticism of the demand-driven system among Australia's sandstone universities, which have an unfortunate tendency to look down their nose at those institutions that take students with ATAR [Australian Tertiary Admission Rank] scores of 70 and below, as if those that do are 'lowering the standards' for everyone else. This is despite the fact that many establishment universities would not know what a student with an ATAR of...