Of late, there has been mounting evidence affirming that neoliberal reign in educational thinking and policy in global higher education (HE hereafter) – its philosophy, curriculum, financing, leadership and management – has set in a steadily declining trend in academic/intellectual quality and standard. This is apart – though closely interlinked with – from growing recent evidence of the declining quantum of knowledge actually learnt among school students in many countries. The ramifications of such widespread declines in academic standard of education should eventually encompass almost all walks of life including society, politics, culture, and arts or even quality of day-to-day functioning and living. There is, indeed, some scattered ethnographic evidence which shows a ubiquitous process of what can be called ‘intellectual retrogression’, with its genesis lying in neoliberal ideational reign with reforms which include a steady withdrawal of public funds from HE, its rapid privatisation, drastic vocationalisation/dilution of academic curriculum and pedagogy, neglect of basic/original research – all being contingent on market-centred neoliberal visions, philosophy and policy. Although it is not an impossible task with appropriate depth and meticulousness to prove such a hypothesised process of intellectual retrogression, we here build up a case for an imperative need for sternly reforming current neoliberal reign and policy.