Pervasive though it is in modern life, the concept of self-esteem is often viewed with distrust. This paper departs from an idea that was recently aired by Richard Smith: that we might be better off without this concept. The meaning of self-esteem is explored within four homes: the self-help industry, social science, therapy and education. It is suggested that the first two use a simple concept of self-esteem that indeed we are better off without. This concept eliminates the distinction between truthfulness and delusion, and relies on a chimera of quantifiability. The much richer concept of situated self-esteem is explored, and it is argued that low self-esteem in children (often narcissistically disguised) should command the attention of educators. Teachers should address this through education and communication, and reject the idea (prevalent in the USA) of boosting self-esteem through a content-free curriculum.