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Knowledge is Power A new era is coming with a fundamental change in the way of work, in our industrialized world. In the US, Europe and Japan, the majority of jobs are in the service sector, and the number is rising, so the percentage of people who earn their living by making things has fallen dramatically. There are more and more part-time jobs, and a growing number of people who are self-employed. But the breadth of the economic transformation can't be gauged by numbers alone, so there has to be a new way of thinking about the nature of work itself. Tomorrow's breakthrough in biotechnology, artificial intelligence, . could produce a similar wave of innovations like the invention of the microchip, and information and knowledge will become even more vital, and people who possess it will have the advantage and produce the wealth. Computer literacy will become as basic a requirement as the ability to read and write.
So the whole world will be computerized and some people will adapt, others won't. But hopefully not all work will be equal. Some people argued, that people no longer should be classified as white or blue collar, manager or laborer, but rather as knowledge and service workers. This difference will be a key to economic success. But there will be a future in manufacturing, and the reason for that, is the move away from standardized production and toward more flexible, customized manufacturing. To survive, the workers have to think of new ways to meet the changing demands of customers.
So the ones who survive will need specialized skills. Another important thing is what kind of productivity any sector of the economy will generate. If it can generate high productivity gains, it will be reflected in higher growth and higher incomes. The result is, that Third World skills will earn Third World wages, and this will produce much more losers than winners. So the problem is the knowledge, and the only route to greater knowledge is through education and training. Without basic knowledge or basic skills, you will come in relatively unskilled occupations such as retail sales, food services, trucking and janitorial services, where productivity and wages are low.
So skills are the thing that will define international competitiveness, and it is very important preparing people for an active life, and not just for a career. So countries like South Korea and Singapore are educating their workers to new standards of excellence. Summarized: The basic materials of the new economy will be information, education and knowledge.
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