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A country’s competitiveness in the global economy depends on its ability to develop a knowledge-based economy. EU has emphasized the importance of education and training systems for the knowledge society. The paper aims to contribute to the debate on vocational education, and specifically to the literatures on varieties of workforce development, human capital, labour market and social cohesion. Findings reveal that education is considered vital for the formation of a skilled and knowledge-able pool of workers. Investments in vocational and technical skills can be an important factor in contributing to economic development. Nevertheless, social cohesion depends on the way in which education and the labour market are linked. The contribution of this paper is to assess the policy strategies dealing with local youngsters’ education, labour market demands and social cohesion with respect to their potential of enabling young people to participate in working life and society. It also offers a contribution to the growing field of political economy of the link between labour market and social cohesion, the variation and dynamics of education systems, and globalisation.
Mei‐Ling Lin (Tue,) studied this question.