This article attempts to address the question of how to make gifted education more equitable and productive by shifting priorities to talent development for all rather than confining itself to the "gifted." I first present an overview of political and ethical considerations in selecting a few for talent or creativity development. I then argue for a form of meritocracy in education for the purpose of producing talents, leaders, and frontier explorers that is different from what is often perceived as "elitist" and that is viable and important for the common good as well as for the individuals involved. I then discuss how we can negotiate and balance priorities of equity, excellence, and diversity. In light of this form of meritocracy, I suggest that the Talent Development Paradigm be adopted as a promising alternative to the Gifted Child Paradigm for the future of gifted education.