Cognition, Learning and the New Economy

Since the early 1980s, the economic performance of continental EU economies has been generally modest. Whether measured by rates of unemployment, rates of employment growth or economic growth, Europe has consistently under-performed compared to its immediate Atlantic competitor. Although the reasons for their contrasting fortunes are complex and multi-faceted, the emergence of the so-called information and knowledge economy in the US and its limited development in much of the EU appears to have been an important factor. At the Lisbon summit of European leaders in March 2000, the need for greater dynamism and entrepreneurship within Europe was widely noted. Delegates focused on the ‘paradigm shift driven by globalisation and the new knowledge economy’ and recognised that a ‘radical transformation of Europe’s economy and society’ is needed if it is to keep pace with the US. With the likely accession of a number of near-neighbours from central and eastern Europe to the EU, these issues are ever more important for the future development and social cohesion of Europe. European policy makers take these concerns seriously; unless the EU improves its competitive position, it will be unable to sustain its social and political objectives.