A story everyone speaking of education reform should be cognizant of is that of Jaime Escalante.
Another issue aside from innovating to meet demand: Personally, if I want to sit down tomorrow and earn a degree in a subject, I don't know why I can't just self study and take exams to do this. To me, anyone in the world being able to earn the equivalent of a Harvard degree appears to be the ultimate policy in dismantling inequality and advancing opportunity. Why should Harvard degrees be limited to a small number of people? They really shouldn't.