The point of view you speak for -- that education is an end in itself -- is a privilege of the rich and reflects their historical attitudes towards education. Back in the day, liberal education was for the children of the rich, and it gave them culture, polish, and perspective that was hard to attain elsewhere. Those are the non-economic benefits of studying the humanities. They're certainly real, and valuable. I'd definitely prefer that people in positions of power and authority have studied philosophy, history, and literature.

However, to argue that a young person of modest means should study the humanities is just cruel. If your family and connections aren't going to set you up as a company vice president or send you to the legislature, your job prospects are dismal.