The Pew Research Center's Internet & American Life Project has released Social Networking Sites and Our Lives.
Here's an excerpt:
Questions have been raised about the social impact of widespread use of social networking sites (SNS) like Facebook, LinkedIn, MySpace, and Twitter. Do these technologies isolate people and truncate their relationships? Or are there benefits associated with being connected to others in this way? The Pew Research Center’s Internet & American Life Project decided to examine SNS in a survey that explored people’s overall social networks and how use of these technologies is related to trust, tolerance, social support, and community and political engagement.
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