Throughout this post you have been saying the problem is that we are not educated and smart enough to compete with Asia, your original solution was to fix the education problem. Now you are saying that all that does not matter because we can't compete on a wage basis. So what would be the point of an American spending 4 years getting an Engineering degree if he/she could not compete with an Asian on a wage basis.
By the way what exactly is an information age? What kind of jobs would be available for Americans?