The paper is based on research that the author is at present carrying out, together with other European partners, within the project "Towards the learning economy. Conclusions from the 4th and 5th Framework Programme projects" (contract HPHA-CT-2000-00051, EU FFRP). The project (deadline: June 2003) is aimed both at the valorisation of results of socio-economic research projects funded under the above Framework Programmes and at the analysis of implications of such results for learning related policies and practices. The paper is articulated into three main chapters. In the first one different aspects of the learning economy are dealt with. The evolving quality of lifelong learning needs is taken into account considering the crucial role played by learning in organisations for shaping both individual working/social competencies and collective forms of knowledge development. The second chapter is devoted to review a number of research projects carried out under Fourth and Fifth Framework Programmes: § "Work Experience as an Innovative Education and Training Strategy For The 21° Century";§ "Work-Process Knowledge in Technological and Organisational Development, Whole"; § "Ways of Organizational Learning in the Chemical Industry and Their Impact on Vocational Education and Training, Orglearn"; § "Learning Environments of Knowledge Intensive Company Units In Five European Countries, Latio"§ "The Role of HRD within Organizations in Creating Opportunities for Life-long Learning";§ "Innovations in Information Society Sectors. Implications for Women's Work, Expertise and Opportunities in European Workplace, Servemploi".§ "Coordinating Competencies and Knowledge in the European Automobile System, Cockeas"§ "Developing Learning Organisation Models in SME Clusters, Delos"; § "Small Business Training and Competitiveness: Building Case Studies in Different European Cultural Contexts, SMEs Training".Within this set of projects, commonalities and differences are analysed in relation to two main problem areas: (i) how the organisational dimension shapes learning and knowledge and entails new working and social competencies; (ii) what kind of transformations are needed within E&T systems in relation to the above phenomenaSuch projects help in shedding light on the above issues as they explore evolutions of work and learning in different contexts and from different viewpoints (large enterprises, Sme's networks, E&T institutions). Although their non-homogeneity in terms of theoretical backgrounds, research aims and results attainment, such projects provides as a whole significant perspectives for understanding the characteristics and ways of functioning of knowledge and competencies in the learning economy/society.In the third chapter some suggestions are presented for European research policies concerning the above issues. Within the broader European socio-economic research area, a specific sub-area is consolidating at the confluence of different approaches (such as: organisational learning, knowledge development, new theories on work and learning). An accrued coordination and integration of efforts within such sub- area could bring about useful results both for lifelong learning policy design at the European level ("applied research" at macro level: top-down approach) and for supporting new forms of reflexivity (action-research at meso and micro level: bottom-up approach).