our FLAWED education system..

I just want to ask a question to this education system, sorry, to the one who believe in this system and use all their energies to make students follow that system. My question is - how many engineers coming out of the college are capable enough or at least interested in becoming a technocrat or scientist? I believe almost all are capable enough to become great reasoning minds. Then why so happened that students aren't interested in engineering subjects? The real situation is beyond thoughts. They waste an hour just to get an attendance. And eventually each of them(at least 4 lakhs an year) end up wasting 9 to 5 slot fully. Even teachers know that. The dean/director knows that teachers authority employed aren't capable enough to teach. Reality is that teachers just mug up subject contents and write it on board. An engineering subject, lets take the backbone of electronics, transistors. How many of the electronic engineers can explain the working and logic involved in working of different types of amplifiers or millions of circuits, they've studied in the engineering course. How many of us can even vaguely design a new circuit consisting of transistors, resistors and capacitors. Are we going to become something which would lead this country to compete with developed world. I'm very much afraid. We boast of human resource. Is this the human resource we are producing?
Engineering is a hyped course because jobs are easily available. And then we work like slaves.
I believe people are ready to work to unimaginable extents once they find it interesting. My solution to this problem of wastage of talent is:
1. If teachers are incompetent then don't make attendance compulsory. attendance won't help in any of the ways. It only kills time mercilessly. That time can be utilized in other activities of their own choice. Syllabus can be dictated in the beginning only. At least they 'll get something of the concept then.
2. I strongly believe that a teacher can help students in only one way and that is by clearing their doubts which they ask. What they teach and how much they teach can be done by students also by their own. And its the ground reality. And this is how they prepare for exams. And if the director is adamant enough on the issue of competence of the teachers then teachers should be asked only to clear the weird doubts of the subjects which one always gets when he begins anything new.