Abstract

The current economic development in europe is a continuous cause for concern. First and foremoust in terms of the dept crisis, having a closer view regarding disbalances of competitiveness. Investigations concerning regional competitiveness agree on the importance of knowledge. Only “knowledge-economies” seem to be able to create sustainable prosperity. However, the question is crucial, which kind of knowledge is decisive. The knowledge which ensures material prosperity has to be discovered by competition. At the same time, firms are confronted with the continuously increasing dynamics of the global economy. Starting from the Hayekian concept of knowledge-based competition this article examines, why education policy should be seen as a reasonable complement of competition policy and defines the relevant academic voids.