Samuel Bowles and Herbert Gintis's "Schooling in Capitalist America," a classic book in the field of education, has become more influential in the last twenty years than it was during the first several years following its publication. Interestingly, however, there are some widespread misconceptions about the book. In this paper, Jianguo Zhang investigates four of the primary critiques of "Schooling in Capitalist America" and then offers a critical defense of the book. He argues further that for Chinese scholars in education, this book is not only a classic, but it is also an outstanding model for how to apply Marxism to the field of education. It is particularly significant in the context of recent calls in China for a return to class analysis in the social sciences. On a worldwide scale, "Schooling" depicts the strong link between Karl Marx and education, which may benefit critical analysis of Marx's legacy to the field of education. Finally, the book may also serve to draw our imagination of education back to theoretical resources of socialism.