In the Digital Age, a dominant role is played by information. In Wired magazine (March 1998), Peter Drucker described it this way: “Economic theory is still based on the scarcity axiom, which doesn’t apply to information. When I sell you a phone, I no longer have it. When I sell information to you, I have more information by the very fact that you have it and I know you have it.”

Visit the American Library Association’s Web site on Information Literacy. What is information literacy? Explain its importance to managers.