Class Clowns is more than a business book or a book on the education industry. Filled with colorful characters and gripping narratives, it poses deep questions that should engaige a broad audience. By bringing the keen insights of a veteran investment banker, Jonathan A. Knee demonstrates that no matter the goals, any business is subject to the basic laws of economies of scale, geographic advantage, and barriers to entry. This is an important lesson that many in the education sector seem to have ignored.