The influence of capitalism on education's telos is a subject of critical concern. This article argues that a neo-liberal ideal that markets should determine educational efficacy and process is antithetical to the cultural good. The authors describe education as fundamentally teleological, responsible for defining, building and sustaining civilization. They further argue that an illusory ethos built upon the purely instrumental goals of the marketplace is replacing the authentic ethos for culture and identity building found in education's traditional telos. The authors hope to open a discussion that addresses the philosophical assumptions which underlie the emerging and burgeoning industry in online higher education. A call is made for a critical examination of the instrumental ethos and it is claimed that an authentic ethos will necessarily include a discourse that questions the goals for culture found in education. (Contains 1 table.)