Atlantis is a myth created by Plato to back up a previously invented theory with real facts. Some scholars express the opinion that Plato intended to tell real history. Although the function of the story of Atlantis seems to be clear to most scholars, they dispute whether and how much Plato's account was inspired by older traditions. Some scholars argue Plato drew upon memories of past events such as the Thera eruption or the Trojan War, while others insist that he took inspiration of contemporary events like the destruction of Helike in 373 BC or the failed Athenian invasion of Sicily in 415–413 BC.
The possible existence of Atlantis was actively discussed throughout the classical antiquity, but it was usually rejected and occasionally parodied. While basically unknown during the Middle Ages, the story of Atlantis was rediscovered by Humanists at the very beginning of modern times. Plato's description inspired the utopian works of several Renaissance writers, like Francis Bacon's "New Atlantis". More than ever, Atlantis inspires today's literature, from science fiction to comic books and movies.
Lemuria is the name of a hypothetical "lost land" variously located in the Indian and Pacific Oceans. Its 19th century origins lie in attempts to account for discontinuities in biogeography. Lemuria has been rendered superfluous by modern understanding of plate tectonics.
Though Lemuria has passed out of the realm of science, it has been adopted by occult writers, as well as some Tamil people of India. Accounts of Lemuria differ according to the requirements of their contexts. However, all share a common belief that the continent existed in ancient times but sank beneath the ocean as a result of geological change, often cataclysmic.
Geologists today regard sunken continents as physical impossibilities, given the isostatic equilibrium of continental plates floating on the thermoplastic mantle.
Mu is the name of a lost land, or hypothetical vanished continent, that was once located in the Pacific Ocean but is now (like Atlantis and Lemuria, with which it is sometimes identified) believed to have sunk beneath the waters.
Current knowledge of the mechanisms of plate tectonics rules out the possibility of a major continent having existed in the Pacific. Continental masses are composed of the lighter SiAl (silicon/aluminium) type rocks which literally float on the heavier SiMg (silicon/magnesium) rocks which constitute ocean bottoms. There is no evidence of SiAl rock in the Pacific basin.
Source: Wikipedia, aka: the common consensus within the scientific community
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