ossier: wor HK *·.** |W **" Æ "*" PUBLISHED BY THE EUROPEAN COMMISSION | * *|INNOVATIONPROGRAMME · AUGUST 1998 ■MHH * * 1 *¡& *+•ØFcon £Úl IT'S WHAT YOU KNOW THAT COUNTS What will work be like in the next century? Will we have any work? This issue of Euroabstracts focuses on the employment effects of the 'knowledge society'. Modern economies generate the major part of their earnings not from physical, tangible goods, but from services. And to provide these services, companies need not machines but brains. The major factor of production is no longer metal, nor even silicon, but us. So to earn a living, we have to be able to acquire, manipulate and sell what we know. To stay ahead, society needs to create new knowledge. And so that we create the right sort of marketable knowledge, the EU's Fifth R&D Framework Programme, which starts this year, is taking a problem-solving approach. We The Knowledge Society, page 8 review a thoughtful study from DG XII which traces the path for public R&D policy over coming decades. In our inInnovation 3-7 terview, Professor Jorma Routti, who leads the European Feature: Commission's R&D department, calls for a European platWorking in the Knowledge form to launch fast-growth companies. This requires betSociety 8-13 ter education, incentives for risk-taking, and a stronger venture capital market. Information and Communication Technologies 14-16 Accompanying this, we report on the sort of radical innoEnergy.