The World Bank on Knowledge and Innovation

An abundant supply of low wage, is no longer a route to and . In today’s world, characterized by and , the key to prosperity is a well-educated, technically producing high value added, knowledge intensive goods and services, employed in private enterprises that have the managerial capacity to find, adapt, and adopt modern, up-to-date technology and sell sophisticated goods and services in .

Education for the Knowledge Economy.Producing knowledge intensive, technologically sophisticated, higher value goods and services is not possible without a trained management cadre and labor force with the appropriate mix of technical and vocational skills. Among other things, this requires (i) scientists with the skills needed to conduct appropriate R&D, (ii) engineers and skilled craftsmen to evaluate technology and adapt it for use in the enterprise, and (iii) who will actually utilize the technology in the production process. Vocational, secondary and tertiary education must all contribute to turning out graduates with the . Moreover, since the skills required by today’s labor market may not be the same as those that will be required in the future, a process of life long learning must be built into the . And at all levels and life-cycle stages, the must work with the to understand and respond to its needs.

Tags: , , , ,