This article shows how universities, like education and social services in general, are increasingly pressured to adopt neoliberal principles that encourage privatization, entrepreneurship, standardization, assessment, and accountability. The authors examine recent efforts in the United States to develop measurement and accountability systems that commodify higher education, and show how they reflect a neoliberal rationale that undermines the historical purposes of higher education, reduces faculty autonomy, and harms the common good. However, they propose ways in which assessment and accountability might be implemented in higher education so as to promote teaching and learning responsive to the interests of students, faculty, the university, and wider communities.