Whart sort of institution should the university aspire to be? What role should it be playing in the present? How should it be governed? Are universities taking proper care of the knowledge that they are responsible for? These questions, along with others, are pursued by Pall Skulason in the present volume on the basis of many years of reflection and experience of university administration. His main thesis is that universities need to be more dedicated to critical thinking and to cultivate the moral dimension of scientific, and technical knowledge.