Distinguished Lectures

Embracing the Knowledge Economy: Egypt in the New Millennium

Publication Number: ECES-DLS13-E

November, 1999

Author : Vincent J. McBrierty

Type : Distinguished Lectures

In considering how best Egypt can integrate into the world economy, it is essential to remember that the world economy in 2000 is vastly different than the world economy even five years ago. The “knowledge economy” has become the economy. It is no longer something to theorize about, it has become the global reality and the central challenge to the future of all nations—developed and developing. Egypt’s integration and potential for growth depends on its willingness and ability to answer to this new paradigm of development and economics. Although it is still early days in the transition to an information-driven global economy, there is much to learn from international experience. These experiences are not necessarily coming out of Europe or the United States—they are often those of small, struggling nations that had the vision and ability to make rapid policy changes when they saw an opportunity for growth. Ireland is a particularly interesting example for a country like Egypt. Ireland has emerged as a small but significant leader in the new knowledge economy by emphasizing the role of the educational system in changing the link between academia and industry and the way we structure both new and extant knowledge. These are all relevant questions for Egypt, and the solutions tried and tested in Ireland’s success story are proof that we need not be left out of this transformation into the knowledge economy.