This paper explores questions about the purpose and role of education in the current political and economic climate and considers the implications this may have for social justice, cohesion and equity. The paper draws on empirical work and reflections arising from the RIAIPE 3 Project, an EU funded Inter-University Framework Programme for Equity and Social Cohesion Policies in Higher Education in Latin America and Europe. We shall outline the political and ideological bases for change in different historical periods, and which help us identify individual and collective points of departure or mediation of policies by actors. We argue that this ‘refraction’ of policy is often based on pre-figurative practice, beliefs and oppositional discourses that are increasingly being overlooked because of the dominance of ideologically informed narratives. Such refraction can, and does, represent a form of agency that should become increasing central to exploration and analyses as it can uncover and illuminate alternative discourse, moments of subversion, and acts of resistance against dominant neo- liberal orientated discourse and practices permeating HE. We also draw on a UK study to illustrate the concept of refraction and consider areas for further research in the current climate.