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This chapter presents a critical analysis of markets within the broad area of the globalisation paradigm and the relationship to education policy. An outline some of the consequences of globalisation is offered highlighting why education is critical to future economic development. There is an implied ethical judgement in the argument that markets tend to magnify and reinforce existing social inequalities between groups and individuals. The authors go on to suggest that knowledge skills have assumed strategic importance in securing economic advantage. Two contrasting national strategies have emerged in response to economic globalisation. They are: (1) the neo-Fordist approach to the New Right and (2) the post-Fordist approach of the left modernisers. Both share a belief in the importance of re-skilling the nation and investing in high level skills as the means of securing economic growth. The authors are sceptical of the assumptions that underlie both positions. They suggest that continuing economic deregulation will inhibit the creation of more highly skilled jobs, and that, as the polarisation of income inequalities intensifies, many individuals seeking further education and training will be denied access to what is likely to become increasingly expensive forms of provision.