One way is through the education and training of our workforce - that is, enhancing our stock of “human capital,” which is a necessary complement to our ever-changing physical capital. A major consequence of the fast-paced technological change of recent years and the growth of the conceptual emphasis of our nation’s output has been to increase the demand for skilled workers.
In today’s economy, skill has taken on a much broader meaning than it had only a decade or two ago. Today’s workers must be prepared along many dimensions - not only with technical know-how but also with the ability to create, analyze, and transform information and with the capacity to interact effectively with others.