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It is widely agreed that education and investment in competencies are crucial for coping with the complex demands and global challenges of today’s world. But what competencies do we need for an overall successful life and a well-functioning society? Interacting in socially heterogeneous groups, acting autonomously, and using tools interactively are indispensable prerequisites for an individually successful life and for sustainable socio-economic and democratic development of society. These three categories of key competencies are a key result of the international, interdisciplinary project DeSeCo (Definition and Selection of Competencies: Theoretical and Conceptual Foundations) carried out under the auspices of the OECD. The volume also addresses questions such as what constitutes a successful life and a well-functioning society and what are the implications for international comparative assessments?