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The last few years have seen a number of policy documents advocating educational change as a means of responding to the changing needs of capitalism: a high skill, high quality economy dependent on knowledge creativity and an innovative workforce. It is suggested that the form of vocational education and training required in a reflexive economy is provided by reflective learning in lifelong education. This chapter discusses the social and economic context for post-compulsory education within a late-modern perspective and sets the case for reflective learning in vocational education and training. The chapter also discusses the policy agenda by examining qualification frameworks and the possible consequences related to lifelong learning policy. The author concludes that prescriptive lifelong training alone is unlikely to meet the needs of individuals, work or democracy. What will facilitate the process of democratisation, economic development and decision making in an age of uncertainty is reflective learning in lifelong education.