The capitalistic society has gone through the process of monopolization in which the capital is centralized upon the few. Under the monopolization of capital in the modern capitalistic society, employers have divided and deskilled the labor to trivialize the workers' skill and so efficiently control their labor with less wage. The State, in the meanwhile, has expanded the educational opportunity to ensure the political legitimacy by positively responding to the educational desire of citizens and to strengthen the competitive power of nation by accumulating the human capital. In consequence, in modern industrial societies, the monopolistic capitalism has accelerated the deskilling and the democratic political system has brought about the explosive educational expansion and unmanageable overeducation. Accordingly, it has produced the occupational structure which is shaped like a triangle, the structure that consists of an enormous number of low or no-skill workers and an extremely small number of high-tech workers. The structure of education population, however, is just the opposite. It is shaped like a upside down triangle in which the highly educated are explosive. This paradoxical situation gives us an unsolvable task to match the inverted triangle(the structure of education population) and the triangle(the occupational structure). It is inevitable for so many highly educated people to be unemployed, subemployed, and latent unempolyed. In this situation, I strongly urge that we face and penetrate the reality of modern monopolistic capitalism that the educated people are skeptical of the value of education by being alienated from the labor market and the process of production. I also argue that we should re-conceptualize the ‘education’ for emancipating human beings.