RUC Theory of Dispersed Knowledge Essay

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Paper instructions : The
paper should focus on Friedrich Hayek’s theory of dispersed knowledge,
although it was initially used in the market price analysis. But
knowledge is indeed by its very nature dispersed, so dispersed that
nobody claiming to be the mainstream media is capable of, or should,
censor information in the name of fact-checking and thereby legitimising
its assertions of self-proclaimed objectivity. In this way, when the
press accuses populist misinformation, it is essentially opposing the
decentralisation of information and supporting the centralisation of
information, a move that is fundamentally detrimental to the truly
greater digging of facts, and even more detrimental to what the press
had hoped for, which was to overcome ignorance. After all, ignorance can
only be overcome “not by the acquisition of more knowledge, but by the
utilisation of knowledge which is and remains widely dispersed among
individuals” (Hayek, 1979 p15).

This literature review should therefore be a focused critique of the
mainstream media, especially the liberal left, which has a long
tradition of journalistic professionalism, that news that has not been
examined by them is unreliable. This is why language such as
fact-checking and responsible journalism has become popular in the last
couple of years. This may be well-intentioned, but it will have the
exact opposite result of the freedom of the press: when all the
information is concentrated in the hands of a few elites for verdict, it
will only hinder communication, not promote it.

I need you to demonstrate why the mainstream media is biased and why the
doctrinaire spirit of the mainstream media, such as the pursuit of
objectivity, has instead led to less objective and more biased results.
Why we are missing a healthy partisanship today, replaced by toxic
partisan bias rhetoric.