What is Creative Destruction of Information

Contemporary economic and financial crisis is closely associated with social innovation. This process profoundly influences cyberspace's phenomena within our globalized communications paradigm. The correspondent debate on the articulation of crisis and innovation was reconceptualized by Marx, Nietzsche, Sombart, Schumpeter, David Harvey, etc. However, Manuel Castells elaborated an economic but also communicational explanation, which seems to us closer to the current crisis. Castells uses the notion of “space of flows” created and shared by globalized capitalism, across information and communication networks at cyberspace. The aim of this chapter is to reflect on “information and knowledge flows” in the present crisis conjuncture. For example, within Facebook content privacy is being debated and even engenders reluctance on user fidelity. In fact, social networks shouldn't deliver just information flows but also knowledge flows, which may become central means of production/consumption.