True education is simply the process of developing the ability to learn, apply, unlearn, relearn.

Learning
Training and practice are major components of developing expertise in whatever human beings do. While it may not always help in developing innate aptitude, it is indispensable if one wants to excel. What is learning? Learning is precisely this practice – in terms of skills and knowledge that are helpful. Modern educational institutions are all about learning.

Application
Using the learned ideas to create something that did not exist before. Proving a new theorem, inventing a new device, modelling financial markets etc. are all about applying basic facts that are learned. Many schools totally ignore this aspect. Not being innovative is as much of a roadblock as having poor knowledge and skills.

Unlearning and relearning
This, according to me, is the most crucial part that a true education must teach – the ability to unlearn, and reevaluate ideas. It is a difficult ability to develop, yet is the difference between wisdom and the lack of it.

It doesn’t matter as much what your education teaches you – arts, science, finance, or even some of the more obscure stuff. What education is really about, is developing the above abilities. Once that is done, pretty much every area of learning is just an application of the above (subject to aptitude, of course).

In addition to the above abstract ideas, there are a few concrete things that any good education must try to include. These are ideas that are guiding principles of major pursuits of humanity, and will make a person much more well-equipped to navigate through life.