It's the education, stupid. Without education, our knowledge-based economies would not function. That's why we need to invest in "human capital". But is education a public or private good? Who should provide and finance it and how? And who decides on content and institutions? Answers to such questions have concrete implications - from pre-school support and academic appointments to the internationalisation of universities. As business management requirements have gained in importance in the education system, it is now one of the key tasks of education managers to mediate between educational theory and economic aspects.