The Role of Librarians in a Knowledge Society: Valuing Our Intellectual Capital Assets

Abstract

The transformation from an industrial to a knowledge economy and society are underway. In the knowledge economy, the knowledge of people and organizations—their intellectual capital assets—are the primary factors of production and the source of wealth. This is in contrast to other kinds of capital that fueled the industrial and the agricultural economies. Librarians have understood the knowledge society as one characterized by an increased focus on digital resources and an expanded use of virtual channels to deliver those resources. However, the nature of the knowledge society and economy is far more expansive than a digital environment. A knowledge society is one in which all members of a society engage in knowledge transactions—in the business environment, in the social sphere, in civic activities, and in everyday environmental actions. This view of the knowledge society presents new opportunities for librarians to leverage their intellectual capital. This chapter profiles the intellectual capital assets of librarians, considers how they align with professional competencies, and presents use cases that illustrate the value of these assets. Future scenarios illustrate how traditional functional competencies might shift in the knowledge economy. These also suggest contexts which highlight undervalued or new competencies. Seven observations describe how librarians might prepare for expanded roles in the knowledge society.

Citation

Bedford, D.A.D., Donley, J.K. and Lensenmayer, N. (2015), "The Role of Librarians in a Knowledge Society: Valuing Our Intellectual Capital Assets", Current Issues in Libraries, Information Science and Related Fields (Advances in Librarianship, Vol. 39), Emerald Group Publishing Limited, Leeds, pp. 81-113. https://doi.org/10.1108/S0065-283020150000039011