The knowledge based economy: a review of the literature

There is an increasing 'knowledge' component to economic activity. In a narrow sense this encompasses the growth of knowledge-intensive industries such as information technology, telecommunications and biotechnology. However, it is also becoming increasingly important in many other 'traditional' industries and there are indications that the knowledge content of work generally is increasing. In such an environment workers are increasingly required to possess a more complex range of intellectual resources and skills to function effectively in knowledge-based employment. The knowledge-based economy project will determine the drivers, extent and rate of change in knowledge requirements in a number of industry sectors and will examine the implications of this for the provision of vocational education and training. The project will include an investigation of the role of 'learning regions' and industry 'innovation' clusters in the knowledge economy.

Working paper for the New South Wales (NSW) Board of Vocational Education and Training (BVET) project 'The knowledge based economy - the implications for vocational education and training of the demands of the emerging knowledge based economy'.

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