...but I think it changes the meaning quite a bit.
This country...as a subset of the global society...(hereinafter known for this discussion as "society") chose an economic model to use for the conduct of its interactions between its members and other subset societies.
In making that choice..."society" committed itself to the support of that model. It is NOT the only thing involved in the support of society...even if it is a pretty big part.
Another aspect of "society" is the goal of education of its members. In the US...the goal of education is not only the simple goal of raising self-awareness...but the goal of preparation and indoctrination of the membership in the ways of society. Part of that goal MUST be the preparation of its members for survival in "society's" choice of an economic model.
So the change of meaning is in that statement. Society failed itself by failing to educate its members to survive within itself.
This does NOT place society subservient to its economic model. It simply makes society responsible for its choice of conduct.
Obviously, Soviet society's model was completely different. Thus, the goals of the other societal aspects were different...because they were designed to support a different view of how its members should interact. And...since soviet society fell...obviously that society failed itself...in many ways...and so drastically as to collapse itself.
Hell, France has a completely different system of education based upon their economic system. Apprenticeship's and other craft oriented development is much more important to them than to us. Our focus is more on college and higher education.