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.

Solution

A section of the 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 cannot afford it or get any benefit from it. For example, a wealthy person can afford to purchase a laptop, which would improve their educational outcomes. This would give them an advantage over those who are poorer, allowing them to earn higher incomes, which in turn results 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 of the world, the access to educational resources has become more equal. Previously, only those with enough money were able to obtain resources like books and tutors. Now, there is a large quantity of learning materials online, allowing 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 purposes, The poorer section of society cannot leverage the benefits of these technological innovations unless they are within reach of these people.