To my knowledge, no long-term longitudinal study has ever been performed to see if people are happy as they grow older.
If the purpose of education is not to produce happier people, I wouldn't know what it might be. So let's do a study and discuss it in 40 years.
Productivity is just code for doing more work for the same money, anyway.
Some things are not subject to "productivity." For instance, the damned Moon is still the same distance from the earth that it has been for millions of years. The highly inefficient thing has never gotten a bit closer or farther away (whichever would be defined as productive), and it just does what it always has. On that basis, we need to destroy it and replace it with something more productive.
There's more work to do than can ever be done, period. Problem is, not all work is monetized, so by definition, it is worthless. We need a new paradigm of value. Careful with that cleaning toilets not being worth anything business. I must remind you that a surgeon's highly paid work will come to nothing if there are bacteria left in the operating room that cause a fatal infection in the patient.
And then there are those who are paid lots, but are really cancer on society - bankers, stockbrokers, and other casino operators, for example. Our current pay scale does not reflect value, and we have no current way to measure it.