By the time Peter Drucker popularized the term the “knowledge economy” in 1966, the American Dream still resonated with young people who were told that if they worked hard and got a college degree they would get a good job. Yet nearly half of today’s youth believe the American Dream is more dead than alive. In our innovation economy where knowledge is essentially free there is no longer a competitive advantage in knowing more than someone else. Academic content may remain important, but what matters more in the labor market are certain non-cognitive skills and dispositions like critical thinking, motivation, and grit.
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