This article describes and analyses some crucial aspects in the latest reforms of Swedish upper secondary education. For decades Sweden stood out as a special case in several respects, in particular the integration of different tracks in upper secondary education; offering second chances to dropouts, and success in terms of equality and equivalence, as well as in terms of socially equal recruitment to higher studies. But, as in other OECD countries, the neo-liberal combination of markets, accountability and institutional rankings has begun to dominate educational policies in Sweden. This development has had a noticeable impact on the upper secondary school system as a whole. For instance, through the independent school reform of the 1990s, there has been a gradual shift from education as a common good to stressing the individual's freedom of choice. As a result of the new reform that begins in 2011 there will be a stronger division between tracks--academic and vocational education, and apprenticeship training will be organised in separate schools. (Contains 2 online resources, 4 tables, 1 figure, and 11 notes.)