I think education is highly important but it also needs to be tied in with a system of government that allows creative thinking to flourish. It is one thing to read what scientists have written before you and reproduce the same result, however it doesn't necessarily mean you will be able to think of the next best idea. Taking China for instance, the population is growing much more educated which is a great thing - however many ideas will get stifled because the person may be afraid of upsetting the government in some bizarre way and choose not to work on that idea further.

An educated population will drive many subtle benefits with the right system of government, like being naturally inclined against corruption. Corruption weakens everything, because if you allow yourself to be bought off then you are naturally saying that you will expect to have to buy off other people for an advantage in future. Corruption can create great divides within a country and will make everyone feel slightly less in control of their destiny.