Schools can't teach everything.
What mine managed to do was to give me a grounding in the essentials - reading, writing, spelling (sort of!), basic maths, basic algebra, how to speak correctly (more or less!), how to structure a formal letter, how to behave like a decent civilised person, how to interact with my peers and elders. It also introduced me to how to conduct a civilised debate, the beauty of the English language through Shakespeare, Dickens, Austin et al, the history of Europe and the US, the reasons for miscellaneous wars, etc. As I studied English, History and Politics at A level, when exactly was I going to learn Freud? We did Brownian motion and Newton's third law (I think) at GCSE, but there is no way a school can go in to depth on these things.
The main point, in my opinion, of an education is to teach the life skills which I mentioned above. On top of this, a good school, combined with good parenting, will give a child the thirst for knowledge which makes them go out and read about Quantum Physics and Tudor History when their major is 20th Century political history, as mine was.
With regard to your collegues who didn't know about Oedepus, I wouldn't worry about their lack of education. I would worry why, then they have heard the phrase 'Oedepal complex', which they must have at some point in their lives, they never had the inclination to look it up.
Vicky