Earlier quoted context omitted.
We need to take a page out of the old Russian system. Get the younger generation prepared for a STEM field to excel. The USSR did a lot of things in hamfisted ways, but one thing they did right was strengthening their STEM education and cranking out very good scientists and mathematicians. We can do that too, if we put the effort into it. Instead we crank out liberal arts kids and other low value add degrees --I mean…
What are you talking about? There are far too many STEM graduates already. Brilliant people with PhDs from great schools often can't find living-wage work in their fields. Becoming highly educated in STEM isn't just low-value-add, it destroys value: a smart person wastes years of his life and productive capacity training for a research position he'll never get, then (optimistically) gets a programming or finance job…
To be honest you don't need to be rubber stamped by academia to do research. Companies should have started to realise that.
People should aim for STEM degrees, but there's no need to burn years on a PhD.