In order to overcome current Internet limitations on overall network scalability and complexity, we introduce a new paradigm of semantic networking for the networks of the future, which brings together flow-based networking, traffic awareness, and self-management concepts to deliver plug-and-play networks. The natural traffic granularity is the flow between packet and circuit and between connection-less and connection-oriented modes. Using flow aggregation capabilities, we simplify traffic processing in the nodes through elastic fluid switching, and simplify traffic control through flow admission control, policing, and implicit quality of service (QoS) routing. By leveraging deep packet inspection and behavioral traffic analysis, network elements can autonomously and efficiently process the traffic flows they transport through real-time awareness gained via semantic analysis. The global consistency of node decisions within the whole network is ensured by self-management, applying the concepts of "knowledge plane" and "network mining."