This, Ruggiero said, involves making computer and telecommunications networks available and compatible worldwide. It stands on the shoulder of an equally profound revolution in global telecommunications. Here again, the trading system is playing an important part. Economic development in the future really will depend to a large extent not on infrastructure, but rather on social issues. In many ways, education and measures to strengthen a satisfactory sense of community are important ingredients in emerging models of economic development.
Electronic trade abolishes distances and frontiers.
Increasingly, economic development means investing in people and the things that attract people to a region, not because business is there, but rather because they want to live there. It means social policies that help to create communities where people feel safe and satisfied and where they have the support needed to effectively develop their skills and knowledge to continue to be personally competitive in the world market. So the way it's starting to shape up, the new economic development model is really about people and community development. Inc. All Rights Reserved.