Hi,
Just having education is not enough, it needs to be relevant education that leads to jobs instead of unemployment. Slobodan is also right, that high education may be a hindrance to getting entry level jobs.
We are a tech company and we used to hire young persons doing simple, but still demanding work. Once a young chap applied for one of those jobs, denying that he had a master Of Science degree. He also said he used to worke in a storehouse, forgetting to say that he was developing software for storehouse management. Well, he got that job anyway.
On the other hand, my parent company has a policy to only employ people with at least high school and qualifications for higher study (that mean acceptable notes in math, physics, chemistry and languages). That also applies to cleaning workers.
We have many educations that lead to unemployment. Just as an example, training to be MUA (Make Up Artist) is very popular with young girls, but the market is small and all successful MU-artist have gone the long way. A good carrier is hard work or a lot of luck. I may add that I had a lot of luck.
Another point may be that a system with to many levels of supervision may just add overhead. It is nice, offering carrier options for the hard workers, but it may also be it leads to the effects mentioned by Slobodan et. al. A more flat organisation may be more efficient.
A final point may be that a market oriented society needs customers. So there needs to be a distribution of resources so folks get paid so they can buy the stuff that is produced . Work used to be the method of doing this, so a non dysfunctional labor market and decent salaries are important for a working market economy. Slobodan, who is an expert in economy may elaborate on that aspect.
Best regards
Erik