Some People Believe That Modern Technology Is Increasing The Gap Between The Rich And The Poor

There is no doubt that technology has had a tremendous impact on our lives. Some people opine that technology is widening the difference among the rich and the poor. I agree with this idea to a certain extent but in my opinion, technology has also enhanced the living standards of the poor. On the one hand, there are many reasons why wealth inequality is increasing. The main cause is that the rich can easily afford automatic equipment. This is because they earn more and have a huge amount of bank savings. Thus, their work is done quickly which facilitates increased income. To illustrate, rich people can purchase computers and expand their business online; hence their earning capacity increases. If computers and the internet had not been invented, the gap between upper and lower class would not have increased like this. On the other hand, the same technology is also improving the living conditions of the poor. Smart phones and the internet have become quite accessible these days and almost everyone has them. Free or cheap internet is the biggest game changer of the 21st century. For example, Ola application on mobile phones have enabled the taxi drivers to find customers easily; thus, maximising their profits. The internet has also enabled many poor students to earn degrees through distance education from reputed colleges at a low cost. As a result, there is a drastic change in the lifestyle of those people who can easily find job on the basis of that qualification. In my opinion, though modern technology has helped to increase the earnings of the rich, this has also assisted in uplifting the standard of living of the poor people by providing them with new opportunities to earn income through different ways.