Should The Public School System Be Abolished and Replaced With Home Schooling?

Across the country, the public school system is in trouble. Governments are claiming there is not enough money to keep schools open and pay teachers what the teachers are demanding they are worth. Parents are dissatisfied with the curriculum. Perhaps the availability of the Internet eliminates the need for public schools altogether!  If parents are able to access a home schooling curriculum on their computers, can we abolish the public school system and replace it with home schooling? How would this affect our culture, our economy, and the social behavior of children? Are enough parents equipped to do it? Could a curriculum be devised on the Internet that would educate students through the 12th grade? Would students still be able to pass standardized tests to get into college?