The Learning Economy Regime

The goal of the paper is to analyze the learning economy from the perspective of a newly emerging economic regime where learning and knowledge creation are the key determinants of economic performance. The paper employs an alternative and analytically useful viewpoint that provides novel insights on standard topics of economic inquiry and highlights more dynamic elements such as interactive learning, trust, and collaboration. A qualitative and quantitative analysis is undertaken predicated on a set of guiding research questions. After examining patterns of consumption and production that delineate the learning economy as a distinct economic regime, the paper considers certain social conditions central to its functioning and sustainability over time. A conceptual model of the transition pathways to a learning economy is developed which argues that changes in aggregate consumption patterns and related means of production are linked to the progressive satisfaction of needs claims of consumers as real incomes rise. The normative implications of transitioning to a learning economy regime are explored based on criteria of labor market efficiency and social equity. The results of this empirical investigation suggest countries within a learning economy regime benefit from national systems that deliver lasting welfare and well-being to their populations. Policy implications are presented which focus on supporting learning and competency building at all levels of society. Together, they emphasize the need for policy makers to adopt a holistic approach to ensure broad participation in the learning economy regime. The paper concludes with a discussion of limitations and possible paths for future research.