The term "knowledge economy", like the term "globalisation", has become a catchword in political and educational debate over the last decade or so, especially in debates upon educational policy where the role of education in preparing young people to take their part in the Knowledge Economy is often seen as paramount over other traditional schooling activities. It is said in such debates that the "production" of knowledge, information and skills, will become more valuable than traditional primary and secondary production. A lot is said about the knowledge required in the Knowledge Economy, and about how institutions, businesses, activities and human beings are to be ordered or structured in accordance with views of knowledge and new Management theories. But little is said of the young people expected to take their part in the knowledge economy. Do they have a choice? Is lying on a surfboard excluded from their life options? How will they be developed, trained or educated to take their part? Will they be committed to developing their selves in accordance with the model of the IT Knowledge Entrepreneur (hereinafter TIKE) presented as a model for education by policy makers in the Knowledge Economy? This article will argue against this latter notion of the development of the self, arguing that because knowledge is prioritised over ethics, there is both an inadequate notion of the self and the educational development of the self and, because of its implicit view only of ethics, an inadequate ethical and moral view of education.