The concept of labour and competence requirements in a service economy

This article is about the fundamental changes which economic systems are undergoing, upon entering the information age. Economic theory, built on the 'industrial' paradigm, is not adapted to the new realities of service relations or informational service activities. Because of the rapidly increasing importance of services, many parts of economic theory can be shown not to be relevant and, because of some essential differences, not to be adaptable. A new 'information' paradigm is needed, corresponding to the decisive character of 'knowledge production' in the creation of values and wealth. The article discusses at some length the new concept of labour; and some of the implications.