There is no doubt that modern technology is reshaping our planet and affecting every aspect of human lives. From a social perspective, many people argue that the gap between the upper class and lower classes is widening as a result of technological advancements. Others, however, believe the opposite.
There are several reasons why one could think that the wealth inequality is, indeed, increasing. The most common reason is the automation. Driven by technology, automation reduces the need for manual labour. As a result, less work opportunities are available for unskilled people. With each iteration of the cycle the competition increases and wages decrease. Secondly, technology has increased the minimum level of needs that should be satisfied. Nowadays, everybody should have a mobile phone and an internet connection, including the poor. This increases the monetary burden on them as they must borrow to cover these new needs.
However, I firmly believe that the aforementioned opinion is ludicrous. The most obvious reason is that modern technology has facilitated the road to riches in an unprecedented manner. For instance, many of the internet billionaires are from lower and middle classes. Moreover, the major leaps in agricultural technologies has magnified food production. As a result, food has become more affordable and available. Finally, leveraging technology has dramatically increased workers’ productivity. Consequently, compensations and salaries have increased.
In conclusion, I strongly believe that technology could possibly narrow the difference between social classes. Increased food production, opportunities and productivity are just few examples of technology’s contribution to bridging the wealth gap.
There is no doubt that modern
technology
is reshaping our planet and affecting every aspect of human
lives
. From a social perspective,
many
people
argue that the gap between the upper
class
and lower
classes
is widening
as a result
of technological advancements. Others,
however
, believe the opposite.
There are several reasons why one could
think
that the wealth inequality is,
indeed
, increasing. The most common reason is the automation. Driven by
technology
, automation
reduces
the need for manual
labour
.
As a result
, less work opportunities are available for unskilled
people
. With each iteration of the cycle the competition increases and wages decrease.
Secondly
,
technology
has increased the minimum level of needs that should
be satisfied
. Nowadays, everybody should have a mobile phone and an internet connection, including the poor. This increases the monetary burden on them as they
must
borrow to cover these new needs.
However
, I
firmly
believe that the aforementioned opinion is ludicrous. The most obvious reason is that modern
technology
has facilitated the road to riches
in an unprecedented manner
.
For instance
,
many
of the internet billionaires are from lower and middle
classes
.
Moreover
, the major leaps in agricultural
technologies
has magnified food production.
As a result
, food has become more affordable and available.
Finally
, leveraging
technology
has
dramatically
increased workers’ productivity.
Consequently
, compensations and salaries have increased.
In conclusion
, I
strongly
believe that
technology
could
possibly
narrow the difference between social
classes
. Increased food production, opportunities and productivity are
just
few examples of
technology’s
contribution to bridging the wealth gap.