Assuming this system was in place 40 years ago (not my area of expertise), the job market has changed, as has the standard/cost of living. To get a decent paying job capable of supporting a family, one needs formal schooling these days, usually grad school as well. The system also needs to support more people now, because forty years ago (here’s where the high school math comes in), which may be two generations ago for some families, society had that (x amount of children times the number of families, possibly squared) many less children/people to employ and support.
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