This publication summarizes research that shows that it would be a serious economic error to favor investment in machines, financial capital, and extracted resources over investments in the education and training of people. The discussion begins by explaining the relationship between job-related learning, individual opportunity, and the competitiveness of employer institutions. Next, it examines the dynamics that link changing skill requirements on the job to training and education. This is followed by a snapshot of the existing and emerging institutions that provide job-related training or access to it. The next section is a closer look at the employer-based training and development system, in general, and the differences between small and large employers, in particular. The following and most sizeable section considers job-related education and training in individual occupations. The discussion concludes with recommendations for improving the nation's job-related education and training system. (YLB)