ABSTRACT
Since the first oil shock in the early 1970s Western societies have experienced a social, political and economic transformation that is yet to reach its conclusion. At its epicentre is the creation of a global economy that has led to an intensification of economic competition between firms, regions and nation-states (Dicken 1992; Michie and Smith 1995). This globalization of economic activity has called into question the future role of the nation-state and how it can secure economic growth and shared prosperity. At first sight this may appear to have little to do with educational policy; however, the quality of a nation's education and training system is seen to hold the key to future economic prosperity. This paper will outline some of the consequences of globalization and why education is crucial to future economic development. It will also show that despite the international consensus concerning the importance of education, strategies for education and economic development can be linked to alternative ‘ideal typical’ neo-Fordist and post-Fordist routes to economic development which have profoundly different educational implications.
