The connection between lifelong learning and knowledge economy is the central focus of this article. The two themes play a major role in the political debate both at the European and the local level. The focus is a curriculum theoretical point of view. This means that the justification of assumptions, values, and arguments will be tested, mainly epistemological, economical, and political, based on an arbitrary selection of well-documented papers. The arguments for and against a knowledge economy and the policy of lifelong learning will be formulated. Finally, it will be argued that a flexible skill formation system with different trajectories in the lifetime is essential for Europe. There should, however, be a strong basis in general vocational education.