Regardless, what makes money and what's good for society are orthogonal, and sometimes outright at odds with each other. Certainly, it's easier to make money via evil than make money via good. And, certainly, economy is flexible - it can be anything. We can have a strong economy making trains, if we want. "Free market" capitalism is not the sole economic system nor is it the most efficient. It seems China has a much more efficient economic system.
I argue higher education is good for society, even if it doesn't make money. Critical thinking is vital in decision making, and the humanities have a bigger emphasis on critical thinking (yes, really). Software engineering is "hard", but not really. Literary analysis is a different beast which requires a different kind of intelligence, one that is lacking in STEM.