Yes that's very warm and fluffy but it should be obvious that an education system that doesn't create more value than it consumes will eventually bankrupt it's host society.
I think you're mixing multiple issues into one big ball of yarn.
A solid case can be made that America's biggest problem right now is our populations inability to think critically. "here, take this loan with fluctuatings interest rates that only lasts 5 years. don't worry you can refinance in 5 years after your house is worth more". "Don't worry about eating well or exercising, here are some pills that will solve it all for your". "let's pray for a solution to our national debt" <- I wish I were making that up
That isn't a solid case for our population's inability to think critically, it's a solid case for the problems caused by the necessity of specialization in a highly complex society. In nearly every interaction outside our chosen areas of expertise, we are all on the wrong end of an information asymmetry. Expecting everyone in society to have at least an intermediate level of expertise in <insert as-yet-unknown next thing that screws us> is not the solution.
Here's an example - I go to the doctor, the doctor prescribes a certain cholesterol medication, I go pick it up and start taking it regularly. There's every chance that next year, someone on the internet will be implying that I'm stupid, that I lack critical thinking skills, because everyone knows that this cholesterol drug causes a major medical condition. I'll be told that anyone who knew anything about medicine at the time I was prescribed this drug would have told me that I shouldn't have taken it. And yet, my doctor, who presumably did know things about medicine, told me to take it. Should I have done my own due diligence into this drug? How would I know where to start? Do I need to be taught biology so that I know how to figure out which medicine is and isn't safe? Does everyone need to have enough understanding of medicine to make these sorts of decisions?
The financial system is less complicated than medicine, but it is not at all trivial. People who were sold snake oil by those with more expertise than themselves do not lack critical reasoning skills. They merely trusted authority, which we all have to do on a daily basis just to get by in a world where everything is complex.
tl;dr; People who didn't understand the consequences of adjustable rate mortgages or believe that prayer is the only way they can contribute to solving our debt problem aren't stupid; they don't know much about finance, but they probably know a lot about something else.
Somewhat related, but when I had issues with my heart, had I blindly followed what my doctor said and not done due diligence, I would have missed a very critical parameter that had to be fixed. The doc (multiple doctors, actually) never suggested the tests, I did my research and found it out, with some push got the test prescribed, lo and behold! That test was positive and was a primary reason for my ill health. Does everyone need to have an understanding of these things? I don't know, but it probably saved me from another heart attack for sure!
