The author raises questions in analyses of educational policy issues and suggests possible answers to them. The questions concern the nature of changes in the educational system from a given proposed policy change, the magnitude of such change, and the length of time needed to secure the anticipated magnitude of change. Competency-based education (CBE) is discussed in the context of these changes. The theme is the need for a "rational" connection between education and the world of work or successful living, or, put another way, a "rational" link between allocation of educational benefits and the allocation of non-educational social goods. Different concepts of "rational" are noted. The changing social value of education, with its changing socioeconomic implications, is related to the CBE movement and its potential. (MF)