I have never looked closely at the numbers enough to make either side of the argument for why. I just have seen enough numbers that show that most generations start near zero in terms of net worth when finishing school. And each generation behind baby bombers have/will accumulate less by mid-life than previous generations.
Related to your premise on education, look at point 7:
http://www.pewresearch.org/fact-tan...s-on-u-s-immigration-past-present-and-future/
And then percentage of population:
https://www.migrationpolicy.org/programs/data-hub/charts/immigrant-population-over-time
Actual the claim of economic devastation is based on the lack of jobs which produce an income that is "middle class". A large number of the jobs in the USA are now service sector jobs paying minimum wage or barely above it. Compare the person making 7.25/hr working in a call center to the miner making $20, or the waiter making $2.50 plus tips to the factory worker making $32.
It is not a lack of jobs, it is a lack of well paying jobs. What many people do not realize is those well paying jobs were largely in support of export industries.
Why is school effectively only seven/eight months of the year?
Why do we have three months of summer vacation? For the harvest right? How many kids in this country work the fields?
There is gobs of research that children, especially through teenage years are biologically on a different sleep cycle than adults. So why do we still have high schools starting before noon? Oh, so kids can play sports after school or deliver pizza in the evening... How does this help them prepare academically? Sure sports teach teamwork (if you participate, which is a minority), but this does little to develop the mind it develops physical skill and some social skills.
Why do almost every college and university require placement tests? Because high schools and earlier have not prepared the kids for college. So you need to determine how many remedial classes they need to take; which often makes college more expensive.
We are pushing more and more kids to go to college, but we have not changed the education system to actually prepare them for rising requirements of college, at the same time we have largely abandoned technical schools to teach practical skilled labor in skilled manual trades.
in terms of life skills, those used to be taught at home. Why are we pushing more on the schools, without giving more time and resources to accomplish the additional learning?
Tim