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This article re-examines the last forty years of conceptual developments in the economic rationale known as neoliberalism against the backdrop of higher education and our journey through COVID-19. Neoliberalism emphasizes a ruthless preoccupation with the bottom-line, efficiency at all costs, and narrow, market-driven understandings of “life,” “work,” “management,” “competition,” and “leadership.” We identify an “accountability paradox,” wherein calls for greater efficiency lead to bureaucracies that ensure that efficiency is never achieved and explicate it through the primary lenses that dissect neoliberalism, the neo-Marxist and the Foucauldian. Because this paradox cannot be resolved by continuing along present lines, the only option left for higher education faculty to demand a severe reduction in accountability regimes.