he view that the 1990s have seen a sharp shift to a market approach in Australian school education is challenged. In reality, governments have moved within a relatively narrow range in public policy over the last quarter of the 20th century. A framework for the first decade of the 21st century to achieve a better balance of enduring values such as liberty (choice), equality (equity), fraternity (access), efficiency (resources) and economic growth (adequacy) will require a new settlement on the concept of 'public good'. The notion of a 'third way', or even a 'fourth way', is canvassed, with New Labour in England providing the marker for what may unfold.