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There is also information and disinformation in the print media, in books, in ads, everywhere.  Just because an idea can be backed up by having been printed in hard copy format doesn't make it any more credible. 

The internet is a powerful tool for communication, probably the most powerful tool we have.  I think one of the best things about the net is that it does expose people to a lot of information, much of it questionable.  It forces one to evaluate information, and decide which is believable and which is not, in other words, to think for one's self.

Yes, it could increase the average intelligence, if we use it properly.