In this article, the authors examine global economic dynamics and assess the challenges they pose for U.S. higher education. Consistent with the views of many others, they contend that higher education can and must play a critical role in preparing an increasingly diverse and highly mobile society for the speed-driven and knowledge-intensive global economy, thereby maintaining U.S. competitive advantage (Johnson 2006). This will require that U.S. colleges and universities become nimbler, more entrepreneurial agents for change with as much outward as inward focus (Stanton 2007). The article concludes with suggested strategies for U.S. higher education to meet 21st-century economic realities. (Contains 1 figure and 6 notes.)