Balance
Actually I wouldn't expect the teachers teaching me to know who Adam Smith was, anymore than I would expect my class mates to know, after all most teachers at least at the education level I received, will also have been products of the standard education system.
It's like the blind leading the blind - which is yet another way, the system helps maintain itself and keeps the balance right?
Just remember, the establishment is safe and sound, as long as we keep ourselves in our place?