ABSTRACT
The current era of economic and technological change is marked by a profound degree of social dislocation and uncertainty. At the root of this change are three interrelated processes: the emergence of a new information technology paradigm that is dramatically altering the economic calculus of production and distribution throughout the industrial economies; the phenomenon of globalization which is intensifying the linkages and interdependence between the economies of Europe, North America and East Asia; and the gradual decline of Fordist methods of standardized mass production and distribution which is altering the occupational structures and patterns of employment throughout these economies. The ability of individual economies and societies to respond to the stress of this social dislocation is determined, in large measure, by the capacity of their existing institutions to adapt to the changes underway. While the nature and extent of the adaptation required may seem novel, the process itself is not. Periods of rapid economic and technological change are characterized by a condition of extreme uncertainty. They place a high premium on the ability to acquire, absorb and diffuse relevant knowledge and information throughout the various institutions that influence the process of economic development.
