A recent study (1) that shows lies spread ten times faster than truth and reach as many more believers, is troubling. This appears to go against the basic notions of homo-sapien evolution as one would assume selection advantages to those who could separate truth from lies. So, either such advantages did not exist or the structure of recent society has given undefinable advantages to those who go against the grain. If it is the former, that implies who lived longer was able to utilize lies more advantageously and if it is the latter, perhaps society can do something about it.
As the social media kings rise - doling out information with zero marginal cost, they do not seem to understand that their actions have societal costs. As economists stick to their century old text books that discuss the trade-off between work and leisure, they are missing an important point. Leisure has a dark side, especially in the presence of "social media," where those with low cost of lack of work could derive higher utility from unbelievable lies than boring truth. The US currently has a leader who seems to have figured out this idea, perhaps by sheer accident. As the academics in ivy towers try to set the story right, they do not seem to realize that they have been rendered irrelevant by a populace, who derive no value from "education."
If the velocity of lies is ten times faster than truth, humanity may be progressing toward doom. The cause of this phenomena cries out for further research - but then it is unlikely as the social media kings are making money they cannot even count and the academics are still writing papers based on century old ideas to assure tenure.