The Collapse of Invisible Capital...
The greatest asset of modern society is trust between individuals rather than its physical reserves. This concept, defined as “social capital” in the economic literature, is the main fuel for social cooperation. Today, however, digitalization has turned into a process that rapidly depletes this capital instead of growing it. While social decay spreads distrust like an epidemic, respect for individual preferences and the search for truth are the only fortresses that can stand against this erosion.
1- Social Psychological Breakdown
a) Fanaticism and dehumanization:
Digital platforms have taken the “In-group Favoritism” tendency of social psychology to extremes through algorithms. On these platforms, individuals are no longer real subjects, but become objectified by becoming “profiles”.
b) Echo Chambers:
When a person is trapped in a virtual bubble where only their own views are validated, they begin to perceive the opposing view not as an “opportunity to learn” but as an “attack” on their identity. This leads to blind devotion, i.e. fanaticism, replacing rational thinking.
c) Trawling Mechanism:
Trolling activities carried out for financial gain do not only spread disinformation; the real damage is done by destroying the individual's ability to “trust others”. In this environment, where every interaction is searched for ulterior motives, the social fabric is rapidly damaged.
2-Insecurity as an Economic Problem
From an economist's perspective, mistrust is the heaviest hidden cost on society. When it reaches the point where “no one can vouch for anyone else”, economic transaction costs increase. When people do not trust each other, contracts become onerous, the need for supervision increases, and the culture of doing business together falters. As social capital declines, the total productivity and welfare of society declines at the same rate.
3- Not Being a “Dumb Devil” and Moral Responsibility
The “Spiral of Silence” in social psychology leads to the suppression of voices of common sense where wrong is loudly defended. It is a moral imperative not to remain silent in the face of wrong, but this reaction should be based on analyzing events, not attacking individuals. Even if individuals are the cause, the real issue is the event itself. Focusing on actions, not characters, is the key to civilized debate.
4-Solution Paths
a) Rebuilding Trust:
Concrete steps must be taken at the individual and public level to stop this social decay:
b) Analytical Distance and Digital Hygiene:
Instead of instant emotional reactions to provocative content on social media, the practice of “slow thinking” should be developed by differentiating between event and person.
c) Troll Filter and Economic Consciousness:
Users should be aware that some of the offensive profiles they encounter are professional “economic actors”. This will avoid heartbreak and futile arguments.
d) Radical Transparency and Principled Stance:
Principles, not individuals, must be vouched for. The truth will eventually emerge, but the important thing is to preserve social honor and dignity in the meantime.
As a result, the antidote to social decay and insecurity is to produce an ethical value that is “independent of individuals”, free from the fanaticism of digital crowds. Instead of being a “fanatic” for others, being a “witness of the truth” is the only way to both individual peace and social peace.