In this article, the author discusses the issues concerning selection of educational policy that leans towards educational efficiency or educational equity. The author examines whether it would be necessary to choose between the two and compares the advantages and disadvantages of these policy orientations. The author believes that equity is part of efficiency because certain forms of equality are objectives of education systems to the same extent as the maximization of skills, so that, on assumption that efficiency is defined as the achievement of set objectives, an efficient education system must be both "efficient" and "equitable." He draws his arguments from John Rawl's "A Theory of Justice," which views a fair social system as one that offers equal chances of achieving educational success or, in the event of equal qualifications, which offers equal access to better jobs. An outline is provided as a guide for those in the process of considering between efficiency-oriented policy or equity-oriented policy. (Contains 7 tables, 2 figures and 13 notes.)