In the chapter, the limits and possibilities of educational and lifelong learning policies in tackling educational inequalities and promoting social diversity are critically explored. In line with the objectives of the book, the chapter furthers our understanding about the role of education and lifelong learning in the production of societal inequalities in the post WW2 world. Research shows that the equalizing and liberating policies over the past 50 years have not been successful in reducing educational inequalities and promoting social diversity, even though there are differences between welfare state regimes, countries and education systems in this respect. Since the 1980s, policies based on neoliberal thinking have further increased inequalities in all levels of education system including adult education and the institutions of lifelong learning in many countries. Many of the problems that education and lifelong learning are expected to solve have origins in global developments and the structures and power relationships of a society. While eliminating inequality of educational opportunities and promoting social diversity are stated aims across the world, the possibilities to achieve these aims through educational and lifelong learning policies are limited. When striving for egalitarian and pluralistic societies, larger societal and political reforms are needed.