School is back amid growing controversy and cynicism. The quality, validity and economic value of college degrees and MBAs have rarely been under such sustained assault. Employability of graduates has never been so dismal. Machines are clearly getting smarter at many of the things people traditionally do on the job. That means people need to become non-traditionally smarter at things machines are not quite yet ready to think about or do. And that means educators worldwide must revisit how they want to make their most important product — their students — more valuable.