Effect of technology on income inequality
Some people think that the range of technology currently available is increasing the gap between rich people and poor people. Others think that it is causing the opposite effect. Discuss both views and give your opinion.
One section of society believes that modern technologies have widened the gap between wealthy and poor individuals, while the other section thinks that technology has narrowed down this gap. In this essay, I will evaluate both views and give my opinion.
There is some evidence for the view that the higher availability of technology is widening the income divide. This is because high-quality technology usually tends to be expensive, which favours the wealthy and poor people who cannot afford it or get any benefit from it. For example, a wealthy person can afford to purchase a laptop that would improve their educational outcomes. This would give them an advantage over poorer people, allowing them to earn higher incomes and resulting in greater income inequality.
On the other hand, technologies like the internet are completely free to use for anyone with an internet connection. Given that this is even available in many remote and impoverished areas, access to educational resources has become more equal. Previously, only those with enough money were able to obtain resources like books and tutors. Many online learning materials now allow even the poor to receive an education.
In conclusion, I think that although technology favours rich people who can afford them easily and put them to use for the achievement of their own purpose. The poorer section of society cannot leverage the benefits of these technological innovations unless they are within reach of these people.