There is no question that higher education will continue to be a competitive differentiator among nations, companies and individuals. Its importance will continue to grow as the world's economic strength is increasingly based on an Information-Age model. Although natural resources and manufacturing will always be necessary, wealth and power will be predicated on knowledge, creativity and global communications. For economic competitiveness, brainpower is the critical resource. Forecasters of societal change have predicted the emergence of a new economy in which knowledge, not machine power, is the critical resource.
Higher education is how nations develop their brainpower.
For a variety of reasons, the need for higher education will increase. The demand for education is worldwide. Corporations, government and international organizations are calling for a more prominent role for education, from basic literacy to lifelong professional education. The percentage of the US population seeking post-secondary education has grown steadily during the 20th century. Demand is likely to increase.