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Date: 2015-10-07; view: 521.


Read the text and think of the word which best fits each gap.

Knowledge economy For the last two hundred years, neo-classical economics …(1)… recognised only two factors of production: labour and capital. This …(2)… now changing. Information and knowledge are replacing capital and energy …(3)… the primary wealth-creating assets, just as the …(4)… two replaced land and labor 200 years ago. In addition, technological developments in the 20th century have transformed the majority of wealth-creating work …(5)… physically-based to "knowledge-based". Technology and knowledge are now the key factors …(6)… production. With increased mobility of information and the global work force, knowledge and expertise can be transported instantaneously around the world, and …(7)… advantage gained by one company can be eliminated by competitive improvements overnight. The only comparative advantage a company will enjoy will be …(8)… process of innovation--combining market and technology know-how …(9)… the creative talents of knowledge workers to solve a constant stream of competitive problems--and its ability …(10)… derive value from information. We are now an information society …(11)… a knowledge economy …(12)… knowledge management is essential. http://www.enterweb.org/know.htm

3. Read the predictions made at the end of the 70th of the 20th century. Have they come true? How do you think education would evolve in the years to come?

A tide of rising expectations in learning is sweeping across the globe. At the turn of the 20th century, universal grade-school education was considered a high enough achievement, as was a high school diploma by World War II. Now the day is fast approaching when some form of college-level learning will be the national norm—and the M.A. today carries little more prestige than the bachelor's degree did a few years ago. The Giant That Nobody Knows, TIME, Friday, Jan. 12, 1968

 

 


Advancing Vocabulary


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