This book focuses on collective skill formation systems, which are characterized by a strong public commitment to and high involvement of firms in the training effort. These systems have been praised for their capacity to deliver two important socio-economic outcomes: a well-trained workforce and the successful integration of social groups at risk of being sidelined. The current shift to a knowledge economy may endanger their capacity to deliver these desirable outcomes. The book contributions examine how this challenge plays out in different skill formation systems and in a variety of countries, most notably Germany, Switzerland, Austria, Denmark, the Netherlands, and Sweden. Together, the contributions to this book show that the shift to a knowledge economy, while representing a formidable challenge, will not mean the end of collective skill formation systems. In fact, we observe an extraordinary capacity of these systems to adapt to changing labour market conditions without giving up their defining features, e.g. the collaboration between employers and the state in the provision of vocational training. What is more uncertain, however, is the distributional consequences of both structural change and adaptation, and the impact on the socially integrative role these systems have played historically. Today, all the countries covered are making an immense effort to preserve this integrating function. The analyses of the various programmes and interventions discussed in this book, however, suggest that there are limitations to the extent to which inclusiveness can be preserved.