To date, philosophers of education have shown relatively little interest in analyzing the theoretical basis in which the economics of education is grounded. The main argument of this article is that due to the changing nature of orthodox economic theory's influence on education, a philosophical examination of its underpinnings is required. It is maintained that as a result of economics imperialism, namely the penetration of economic modes of thinking into new domains, educational philosophers have an essential role to play in examining economic theory. The article briefly discusses this role and provides some examples of how educational philosophers can make a unique contribution to current thinking about the relationship between economics and education.