When we are talking about education in terms of the economy, its standards that matter rather than inspired individuals. Getting everyone literate and numerate is do-able and some countries do it.
In Germany there half the population I think are trained in a very high quality vocational sector.
Here, it is market driven in a very haphazard way. In the early 2000s a lot of Irish students were opting for IT qualifiications geared to US FDI employment. The system was very responsive and started to produce a lot of IT graduates When the dot com bubble burst the idea got around that it was a bad employment option and since then we undersupplied - people were being brought here from India because we didn't have enough people trained. There are also complaints about the quality of training/education in the IT sector.
Now, I hear people who would make great architects say they've changed their minds because of market conditions - that is cracked as it takes seven years at least to qualify.
Young Irish people seem to be very much geared to choose a course for employment reasons, and often don't have good advice even about the realities of what future employment there might be. That is something that could be improved relatively easily.
When there are people unemployed, particularly young people, the best possible thing we can do is keep them in some form of good quality training and education - even if we provided foreign language teaching free for people on unemployment benefits, it would be better than them not having anything to do.