Fake News In One Graph
I dusted off the cobwebs that currently reside where my economics degree lives and attempted a rough sketch. This sketch illustrates the supply and demand of Fake News.
On the vertical axis, we see the Price of Fake News. On the horizontal axis, we see the Quantity of Fake News.
Notice the Demand curve for Fake News. That’s us, the people. And though I couldn’t draw it being non-existent for our purposes here, you’ll see our demand for Fake News is EXACTLY ZERO at any price. This means our demand for Fake News is inelastic. In other words, we want none of it, even at a low price. Price has no effect on quantity demanded.
What does the price represent? Well, that’s not about dollars and cents. It’s about what disinformation and radicalization of Americans costs us, be it violence or warped minds.
Notice how the Supply curve outpaces the Demand curve at out current high societal and cultural price for Fake News. This results in a toxic surplus. Notice also that as the quantity of Fake News decreases or moves leftward along the horizontal axis, it loses value and by extension wreaks less harm.
That’s it. I’ve either just thoroughly confused you, made an analytical mistake or graphically illustrated where we are with Fake News today. One thing’s certain. My handwriting is at a fifth grade level.
Originally published at americansowoke.com.