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 that the increased availability of technology is contributing to the widening of the income divide. This is because high-quality technology is typically expensive, favouring the wealthy, while the poor cannot afford it or benefit from it. For instance, a wealthy individual can purchase a laptop computer, which will improve their educational outcomes. This would provide them with an advantage over poorer people, allowing them to earn higher incomes, resulting in increased income inequality.

discuss both views and give opinion

On the other hand, technologies such as the internet are completely free to anyone who has access to one. Given that this is available in a large number of remote and impoverished areas throughout the world, access to educational resources has become more equitable. Previously, only those with sufficient funds could obtain resources such as books and tutors. There are now a plethora of educational resources available online, allowing even the poorest students to receive an education.

In conclusion, I believe that while technology benefits the wealthy, who can easily afford it and use it to accomplish their own goals. The poorer sections of society cannot benefit from technological advancements unless they are affordable to them.

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