Around the world, all of us are influenced by technology. In some places around the world, advances in technology have increased the wealth gap between the wealthy and the poor. In other places of the world – like the United States of America and Japan after their industrial revolutions – the wealth gap has decreased as the poor get richer and rise from poverty. While some argue that the wealth gap is decreasing, others argue that it is increasing.
Some argue the wealth gap is decreasing in some places due to innovations in science and technology, which help to increase the amount of jobs. This is shown during an industrial revolution, in which there can be a significant increase in inventions and businesses. Also, if the amount of new innovations and businesses expands, it in turn increases the amount of jobs there are. This grants more people access to high paying jobs, allowing the wealth gap to decrease due to an increase in more opportunities for everyone. Furthermore, having more businesses encourages competition between businesses to lower their prices on goods, which will allow more money to be in citizens’ pockets. Having more businesses may also make other businesses raise their wages to make their job more appealing to citizens.
On the other hand, some people think that technology may help widen the wealth gap due to an increase in automated technology which can do the jobs of workers. Because automated technology will cost less and will not require wages, an increase in automated technology may lead to mass layoffs among businesses. Another variable is that an increase in technology could possibly make better goods, which could put other businesses out of operation, causing them to have to lay off their workers.
If technology were to come and dominate in a place where workers were not required in any position, it could make everyone lose their job. One example of this was when computers got better and NASA did not need humans to calculate trajectory or anything else. This shows that technology has already started to replace people, which has made them get fired. This makes the wealth gap between people increase.
In conclusion, some people in society think that technology has helped to increase the wealth gap between people, while some believe that it has decreased it. In some instances, technology has increased it, such as when workers are replaced by technology. In other instances, it has decreased it by increasing the amount of jobs. Finally, more research is needed to fully determine if technology shrinks or increases the wealth gap.