Purpose: This article aims to offer a perspective on issues pertaining to higher education, the graduate and the labour market. It is one of several similar perspectives on the occasion of the 50th anniversary of the publication of the journal "Education + Training." Design/methodology/approach: The approach adopted has been to provide a reflective commentary on the salient issues of the period, coincident with two major reports in the history of higher education in the UK--Robbins and Dearing. Findings: In the context of several of the accepted performance indicators, higher education policy is seen to have been "successful." However, this success must be qualified on the grounds that the majority of the UK school leaving population continue to enter the labour market with no qualifications whatsoever. Originality/value: This lies in the critique of education and training policy forwarded and in its context, the other comparable articles within the anniversary edition of "Education + Training."