Education and training in a knowledge-based economy

Citation

(2001), "Education and training in a knowledge-based economy", Education + Training, Vol. 43 No. 1. https://doi.org/10.1108/et.2001.00443aab.011

Education and training in a knowledge-based economy

Education and training in a knowledge-based economy

Keywords: Knowledge economy, European Commission, Training

The role of education and training in stimulating innovation in a knowledge-based economy is emphasised in a European Commission document. Innovation in an Economy Based on the Knowledge Society examines the progress which the EU is making towards becoming "the most dynamic knowledge-based economy in the world". The document states that Sweden, Finland, Denmark and Germany have made the most progress in this area, and Italy, Spain, Greece and Portugal the least.

Among the Commission's recommendations are: set in place education and training programmes; take account of best practices in Europe; ensure the existence of co-ordinating mechanisms at national and regional levels; regularly organize assessments of innovation and promotion programmes; adapt the provisions on research work funded by public authorities; pursue efforts at creating a favourable tax environment for start-up companies; stimulate regional initiatives; encourage companies to invest in research and employment; encourage debates between the parties active in innovation; and stimulate public demand through dynamic purchasing policies.

In a separate report, education and training in almost all the EU member states is identified as in need of modernisation to meet the needs of the new economy. The European Economic and Social Committee has adopted a report, The European Dimension of Education: Its Nature, Content and Prospects, drawn up by the president of the general council of the Greek Civil Servants' Federation. The report states: "We need to respond to the requirements created by a new European environment – internal market, European guidelines on employment, single currency – and to the new situation created by globalization".

The report claims that most European countries spend a smaller proportion of their national wealth than the USA and Canada on education and training. Lifelong learning is a key factor in being able to adjust to faster change in the world economy and the growing need for worker mobility. A European system for exchanging good practice on education would help to foster lifelong learning in Europe. The European Economic and Social Committee is ready to participate in framing proposals for education to help the community to move forward in this area, says the report.