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The strict curve where the students are graded against a defined set of standards is probably the most fair, because the reward to receive the best grade is available to all and likewise the failure in the worst grade. However, from the standpoint of promoting society, I can see how the bell curve produces better results. As a country, just because one generation of students happened to be of above average aptitude doesn't mean we should let them slide and perform at a lower capacity. The bell curve forces a small percentage to still push themselves to their peek potential which will hopefully lead to the innovations that carry us into the next era.
I'll admit that I was one of those kids that took advantage of the strict curve and just coasted with little effort.
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