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This is the age of 'The Lost Generation' and the Victims of Expensive and Irrelevant Education. From the time of Aristotle's Academy about 600 BC, Education has been delivered without any revolutions; nobody dares to question its worth and relevance for spending such a long time and huge money. Information Technology has no impact on education except on peripheral aspects. Education is unscientific and mismanaged. It reinforces poverty and misery of millions allowing just 2% own or control over 80% of the wealth of the Humanity. It is high time to bring a Revolution in Education with philosophical, methodological, technological and managerial support. Knowmatics and Dynamic Knowledge Banks or Corporations offers new possibilities in these directions.