It’s probably a bigger argument than I can articulate in the time I have available at the moment, but I’ve long believed that this phenomenon, among many other crises, is driven by the rise to dominance of a constellation of philosophical worldviews which center around positivism (and which extends to various failed attempts to overcome it).
The categories of thought which underpin a humanistic education are denied (a priori), except insofar as they are immediately useful to material well-being. The importance of contemplation of the truth is relativized downwards, and thought must justify itself in terms of action: social change, market value, “impact”, etc., which is all another way of saying that truth is made an instrument power[0]. We are living the consequences.
In this light, it becomes apparent that the crisis crosses contested political boundaries (although it is admittedly progressives who currently have the upper hand). The main beneficiaries are, as one might expect, the powerful.
[0]: some may reply that truth has always been a socially constructed instrument if power, and that announcing it as such is simply a reduction in hypocrisy. This criticism must be reversed upon the critic: the proposition is itself a construct only believable in a social idiom which made it so.