A formative inquiry into the institutional dimension of educational leadership is presented. Based on the thesis that individual educational leadership is a myth derived from misconceptions about social institutions and from the failure of the institution of education to value intellect, the paper demonstrates that these shortcomings stem from the power relationships in schools and the educational system. Following the analysis of Michel Foucault, the suggestion is made that not only is intellect devalued by schools, but it is the central subject of true education. Because learning entails collaboration, the concept of the individual organizational leader may obscure the relationships that promote or constrain the development of intellect as the legitimate objective of learning. The observation is made that teachers may be more likely to exercise leadership, as defined in this essay, than school managers. (87 references) (LMI)