How successful is our school system?

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"It is a sad sight to see thousands of students graduated every year from our grand institutions whose object is to make stalwart, independent, self-supporting men, turned out into the world of saplings instead of stalwart oaks, "memory glands" instead of brainy men, helpless instead of self-supporting, sickly instead of robust, weak instead of strong, leaning instead of erect.  'So many promising youths, and never a finished man!'"

(Pushing to the Front  by Orison Swett Marden, published 1911)

I read this a couple days ago and was really surprised at how our educational system hasn't really changed in the past 100 years.  What are your thoughts?