The role of information professionals in global economic crisis

Abstract

It is now generally agreed that better information use in the financial services sector might have helped to avert the economic crisis which originated in the U.S. in 2007. Similarly, it is clear that improved availability and communication of good information could have helped prevent the types of consumer and investor reactions which spread the crisis around the globe today. Drawing on a range of existing sources, this paper considers the impact of information failure and the role of information professionals in the economic crisis. It then examines how information professionals can make an important contribution to economic recovery and sets out recommendations for the profession. The paper concludes that unless information professionals play a more proactive role in making good economic and financial information readily accessible, the risk of recurrent economic crises will be increased