In the 1990s, then–European Commission President Jacques Delors launched the vision of a “knowledge economy” as the strategy for the continent’s future.
Amid globalization, the digital revolution, the rise of Asian economies, offshoring, and growing financialization, Delors warned of the risk that Europe would fall behind if it continued to rely solely on traditional industry and the internal market. His idea was clear: knowledge, innovation, and education had to become the new drivers of development. Education and research were to be considered productive resources on par with, if not more important than, capital and labor.
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