This paper attempts to review critical academic evidence on the social and economic value of education. It provides a critique of the mainstream paradigm of education which is hegemonic and non-egalitarian. Being rooted in singular notion of schooling it does not encourage inclusion and fails to attract and retain many subaltern socio-ethnic groups which might be concerned about their languages, customs and cultures and so on. Also the dominant form of education and schooling is limited by suboptimum outcomes and goal diversion. From the point of view of inclusion and assimilation of diversity as well as richness of outcomes a case for plurality of education systems, particularly for low cost alternate systems of education is made out here.