The European Union is resorting to long-term multi-annual political and economical plans. The current set of plans, “Horizons 2020”, also involves restructuring the educational system, as in the Bologna system. The idea behind it is that education should help industry to win the competitive battle with other major economical blocks. The idea is best described by the adage of the European Union of developing a so-called “knowledge-based economy”. It implies that education is a form of investment. We should educate people – the society should spend effort on educating people – in order for society to make profit on it. Contrasting this is the idea of education as a consumption good. In the latter, people study to become knowledgeable, since knowledge makes a person happy. We discuss here the dissident view why an educational system that is for investment-only will at the end not bear fruit and will destroy science, creativity and eventually any form of competitiveness in the economy. It will lead to moral as well as financial bankruptcy.