This reference contains the best result of this kind currently known for mu(n):
Tadej Kotnik and Herman te Riele The Mertens Conjecture revisited. Algorithmic number theory, 156--167, Lecture Notes in Comput. Sci., 4076, Springer, Berlin, 2006.
They prove that limsupxrightarrow+inftyM(x)/sqrtxgeq1.218 and that liminfxrightarrow+inftyM(x)/sqrtxleq−1.229. Here
M(x)=sumnleqxmu(n)
is the conventional notation for the summatory function of the Möbius function. Their proof is a mixture of analytic number theory and large scale computations. They also have a survey of what is known and what is conjectured about the size of M(x).
Now on to the Liouville function lambda(n) and its summatory function L(x). The latter is very closely connected with M(x), for
sumnleqsqrtxmu(n)Lleft(fracxn2right)=sumnleqsqrtxmu(n)summleqx/n2lambda(m)=sumNleqxsummn2=Nmu(n)lambda(m)=sumNleqxmu(N)=M(x).
Thus
|M(x)|leqsumnleqsqrtx|Lleft(fracxn2right)|
and so the assumption
L(x)=oleft(fracsqrtxlog1+epsilon(x)right)
for example, leads to a contradiction with the Kotnik-te Riele result (or earlier results) for any epsilon>0.
My guess is that if one looks up the old (pre-computer) results on |M(x)| from below, one might prove that limsupxrightarrow+infty|L(x)|/sqrtx>0. This may even be in the literature somewhere.
Alternatively
suminftyn=1lambda(n)n−s=prodpsuminftyk=0lambda(pk)p−ks=prodpsuminftyk=0(−1)kp−ks=prodp(1+p−s)−1=fraczeta(2s)zeta(s)
by the Euler product formula, and from here on it is more elementary than it was with M(x) in the argument that David Speyer gave, because we don't need the zeros on the critical line. For zeta(2s) has a pole at s=1/2 which is not canceled by a pole of zeta(s) at the same point. Thus L(x)=O(xalpha) is impossible with alpha<1/2 by partial summation.
For multiplicative functions of modulus 1, the situation is much less clear. For simplicity, assume that f(n) is a totally multiplicative function (multiplicative and f(pk)=f(p)k) with |cp|=1 where cp=f(p). The Liouville function is the case
cpequiv−1. Then
suminftyn=1f(n)n−s=prodpfrac11−cpp−squad,quadA(x)=sumnleqxf(n)
by the Euler product formula. The basic principle is that if A(x)=O(xalpha), then the Dirichlet series on the left hand side is convergent in the half plane sigma>alpha, so the sum is holomorphic in that half plane. If we can find a singularity s0 of the product on the right hand side with mathrmRe(s0)=sigma0, that tells us that
A(x)=O(xalpha) with alpha<sigma0 is impossible. The bad thing now is that the product may diverge at a point without having a singularity there, because the product may diverge to zero, and a holomorphic function may be zero at a point without being singular there.
But it is straightforward to show that if mathrmRe(cp)geqdelta>0 for all p, then A(x)=O(xalpha) is impossible for any alpha<1, by showing that the series
sumpcpp−sigma
goes to infinity as sigmarightarrow1+.
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