It's interesting that the Boston Globe's article talks about astrophysics and chemistry PhDs as if that is still where all the smart people end up.
I would say that one of this country's biggest problems is that we 'track' so many of our best and brightest into the financial 'industry' where their mathematical and creative talents are frittered away coming up with better arbitraging formulas and the like. In other words, not doing anything useful at all, just figuring out ways to make the overall economy more unstable and susceptible to crashes. If all of the great minds who ended up on Wall Street over the past two generations had ended up in science careers, there would have been less market instability, and more scientific and industrial advancement.
On a side note, it's too bad (and somewhat depressingly predictable) that the 'debate' here largely turned into a boring malthusian/eugenics discussion.