Does the Internet Make Humanity Smarter Or Dumber?

The Wall Street Journal is running a pair of articles asking whether the Internet is making humanity smarter or dumber. The argument for smarter is that the Internet is simply a change in the rules of publishing, and that the bad material is thrown away; the second story critiques the 'information overload' aspect of the Internet, claiming that we have traded depth of knowledge for velocity and span. What do you think? Does the Internet make you stupid?