In this study my aim is to examine the paradigmic shift of postMarxist educational theory of S. Bowles and H. Gintis, and its implication for the social and educational transformations in liberal democratic capitalism through the analyses of the following questions : (1) what are postMarxist characteristics of the new theory set forth by Bowles and Gintis ; (2) how education is understood from this postMarxist theory ; and (3) how the understanding of education in the postMarxist theory is different from that of Marxist social reproduction theory. In particular, its implication is examined and discussed through the additional analysis of the social and educational changes made by the American New Right in the 1980s from this theoretical perspective. In the new PostMarxist approach the Marxist reproductive argument that schoolings' role is to reproduce the capitalist hierachical relations of production is considered as too simple. Instead the role of edcuation must be seen as contradictory. That is, it is argued, education plays dual democratic and reproductive role. This new view on the role of education derives from the new postMarxist theoretical position on social formation is contradictory. This contradiction between democratic person rights and capitalist property rights is not the contradiction in Marxist sense. The contradiction of Marxism is the one ingerent in the social relations of production. Neither it is the contradiction in liberal sense, because liberals have generally assumed harmonious relationship between person rights and property rights. However, although the postMarxist approach rejucted the liberals' assumption, the hard core of the postMarxit approach is not beyond liberal, so far as Bowles and Gintis take as their postMarxist theoretical base the liberal discourse of rights. The conclusion is that the postMarxist educational approach has made paradigmic shift from the Marxist reproduction approach, but that it is difficult to assess the post