| When discussing the term, 'knowledge economy', | | | | employed in knowledge industries (such as |
| it is worth discerning exactly what this phrase | | | | education, high tech services, creative) compared |
| means and why it is worth understanding its | | | | to just 25 percent in 1970 - and today almost 90 |
| importance today. Primarily, knowledge within a | | | | percent of the workforce have a qualification |
| knowledge economy is a product that can be | | | | compared to just 40 percent in 1970. |
| sold, which contrasts - somewhat confusingly - | | | | Subsequently this development of a knowledge |
| with a knowledge-based economy, in which | | | | economy has in part been stimulated by |
| knowledge is a tool. | | | | advancements in technology, communications and |
| In order to simplify this further, it is worth noting | | | | the internet which is set to have a continued |
| when the term was used first, i.e. by Peter | | | | affect particularly after the recession and the |
| Drucker in his book The Effective Executive in | | | | increasing number of fresh graduates. Of the |
| which he examines the differences between a | | | | future, one of the primary questions that The |
| manual worker (i.e. one who works with his/her | | | | Work Foundation asks prior to its phase two |
| hands and produces something tangible) and a | | | | Programme is: "What skills will be needed?" |
| knowledge worker (who works with his/her head | | | | This leads me to contemplate the importance of |
| and produces ideas, knowledge and information). | | | | ICT-based courses and e-Learning in regards to |
| In the UK, an examination of the current | | | | staffing a growing knowledge economy. Degree |
| knowledge economy with an estimation of how | | | | courses that naturally include the usage of Web |
| this will develop over the next 10 years has been | | | | 2.0 technologies such as social networks and blogs |
| undertaken by The Work Foundation, a | | | | in addition to traditional synchronous face-to-face |
| not-for-profit organisation that aims to provide | | | | learning are no doubt the most logical ways to |
| answers 'for UK-plc and the public sector'. This | | | | prepare individuals with the necessary skills for |
| year they published the first phase of their | | | | tomorrow's workplace. Additionally, promoting |
| Knowledge Economy Programme (available here: | | | | independent study, learning without walls, and |
| theworkfoundation.com). | | | | open content is also the key to increased |
| This highlighted the primary differences in the | | | | accessibility and educational equity which should |
| economy today in comparison to 1970, for | | | | lead to an ever-more cohesive global village. |
| example: today 50 percent of the workforce are | | | | |