The public university plays a key role in the task of creating and disseminating critical knowledge, while at the same time it must be a strategic agent of change and social transformation. However, it is not exempt from contradictions. While it advocates generating social dialogue and meeting spaces for joint reflection, it also drives a university model that is more in keeping with market interests than social problems.  We analyse those contradictions and the role of the University in society and its relationship to the type of knowledge fostered.