A Knowledge Economy Paradigm and its Consequences
AbstractDuring the 1980s and 1990s "Active labour" market reforms opened up labour markets in Europe, making them more flexible without putting in jeopardy the essence of the social security protection model. Countries that went furthest in such "active labour" market reforms such as the UK, the Scandinavian countries, and the Netherlands witnessed not just reductions in unemployment, but also impressive increases in employment participation rates, particularly among underrepresented groups in the labour market. The challenge today appears more or less similar, but this time with respect to knowledge. Interestingly, it is those EU Member States that have succeeded most in "activating" their labour markets and developing better functioning social welfare models that have performed best in terms of knowledge investments. This suggests, that success in boosting knowledge investment generates the public resources for the development of social welfare models capable of addressing rapid change, and in particular the global changes of the 21st Century.
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Bibliographic InfoPaper provided by United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT) in its series MERIT Working Papers with number 001.
Date of creation: 2006
Date of revision:
Knowledge; Human Capital; Investment; Social Welfare; Technological Change; Social Change; Globalisation;
Find related papers by JEL classification:
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
- O38 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Government Policy
- O15 - Economic Development, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
- I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
- J61 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Geographic Labor Mobility; Immigrant Workers
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