Information as a Factor Regulating and Deregulating Markets. A Case Study of the Dot.Com Crisis, the Lehman Brothers Crisis and the Sars-Cov2 Pandemic

Abstract

Abstract Present, as Manuel Castells (1996) notes, we live in the information age. Knowledge and the way it is acquired and processed are the driving forces of the economy, and information processing systems are the strength of economies. The aim of this article is to identify the key role of the information supply phenomenon in contemporary socio-economic processes. The initial part of the article will define such concepts as: information, infodemia, information market, in the further part examples of the use of information in the process of forming social behaviour in the market context will be presented. For this purpose, three major economic crises from the turn of the 20th and 21st century will be used cross-sectionally. The first will be described as the dot-com crisis, i.e. the first global Internet players, which led to the collapse or loss of value of many global Internet platforms through the creation and bursting of a speculative bubble. The second crisis described below was related to the collapse of Lehman Brothers, a leading US bank, and the US housing crisis. In the above case, both supply and concealment of information in the public sphere could be observed. The last crisis described is the crisis related to the SARS-COV2 pandemic, in which dis- and mis- information activities proved to be crucial.