The South African Department of Higher Education released a Green Paper on Post-School Education and Training in February 2012 setting out its policy objectives for the development of post-school and higher education over the next decade. The proposed policy outlines bold steps to be taken to create job opportunities and educational opportunities. In analyzing this document the paper provides an overview of some of the educational realities faced by South Africa and expresses concern about the apparent disjuncture between the intended policy and the educational realities. It is argued that the policy document will remain symbolic and barren unless government succeeds in addressing the fundamental challenges of educational underperformance, unemployment and poverty reduction faced by our country. Using a meta-interpretive research design, the paper argues that solving the challenges in higher education must not be seen in isolation from the broader context of the national and international scientific and technological playing field. Four salient points will be made in this regard. First, economic development must be prioritized. Without economic development there can be no sustained job creation and this must be achieved in a context of an ongoing recession and nervousness in international markets. Secondly, economic development internationally is driven by innovation and high technology skills that require an education system that can produce people with these skills. Thirdly, quality education that is focused and relevant to the economic and development needs is an essential foundation to economic development and growth. This quality must span the total education system from foundation phase to the highest level of the system. It should not tolerate mediocrity but should enable the best minds to develop their potential to the fullest, whether that is in academic or vocational skills. Finally, any policy changes and plans must take into account the economic and financial resources of government. The paper provides data indicating that it is unlikely that the tax base of the South African economy would be able to support the ideals forwarded in the Green Paper of 2012.