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The transformation of higher education provision by neoliberal values has been well documented. However, recent criticisms and even attacks upon higher education indicate a new politics extending beyond neoliberalism. This article draws on the sociology of conventions to unpick the distinctions at work in these new criticisms of universities. By distinguishing between values based in the market world, industrial world and civic world, we elaborate the political basis of recent value controversies around higher education (HE), reflected in policy and rhetoric. Looking to reject aspects of the neoliberal HE model, some critics have sought to revalue higher education upon productivist values, attacking universities for failing to generate 'use' value for students and society. Populist actors have launched stronger criticisms, aiming to revalue higher education on nationalistic and traditional values. This has generated the devaluation of higher education in national public spheres. As higher education has expanded globally, this new politics emerges from conflicts within and between conservative and liberal elites. Trends in Hungary and Brazil indicate the successes and failures of populist attacks on universities. Trends in the United Kingdom and Australia reflect productivist revaluations of market-based HE. Elite revaluation and devaluation is producing an emerging new global politics of HE.