I completely disagree. Algoritms are exactly the kind of things that don't require any creative thinking, besides identifying when they may be applicable. That's easily outsourced to whoever charges the least.
Algorithms as taught in university are like single letters. We yearn to write compelling essays and deep poetry, and you are advocate having an illiterate person select letters one at a time and outsource the writing of them to the lowest bidder.
From your user name I guess you are a troll. But the best part is, there many people who really think that way. I think its the dominant view in the industry. For example at least some (and probably most) groups in redmond.
No, you have to read my response in context (E.g. as a response to plumbing and many others who can solve them). I work with software that supports business processes, manage information and facilitates interaction between humans and machines. In that field (if it is even meaningful to speak of such a broad category as a single field), knowing how to write the most efficient sorting algoritm is fairly close to worthless.
I'm sure that if you work at Google, where crunching big data is key; or in a company like Microsoft or Apple, where applications are much closer to the hardware; then these things do matter. But I propose that a major part of software development happens in a space where such things are irrelevant or at least very rarely relevant.
Regarding my outsourcing remark, let me clarify a bit. What I mean to say is that while the stuff that is close to the hardware might take skilled workers, it does not require cultural skills. For example, I would suggest that it's a lot easier to outsource a hardware driver than it is to outsource a workflow engine for an order process. For the latter, you need to be close to your users and you need to understand the business you're modeling.
Mind you, I think it's fine that we teach this stuff in universities - it's good background knowledge to have. But as a practical skill, I question its value. And in a job interview, I would suggest to test the skills that are actually needed in the relevant job.
Oh, and I didn't choose my name; My parents did. It's traditional and somewhat common name in Scandinavia. You're not the first to get that wrong though.
You are right that there are lots of such problems. But there are also many others who can solve them too.