Some believe that advances in technology are increasing the gap between rich and poor while others think the opposite is happening. Discuss both sides and give your own opinion.

Many are of the belief that the progress of

technology

has widened income

inequality

Correct your spelling

inequality

show examples

between social classes. I agree with

this

view as,

although

technology

ensures equal levels of accessibility, it

also

concentrates capital in the hands of a few. Detractors often argue that

technology

has allowed the underprivileged greater access to information.

This

relates chiefly to information

technology

and the growth of the internet and devices that support connectivity. In the past, only those

educated

Correct your spelling

educated

show examples

in universities could read certain academic articles and important research. The internet now makes it possible for the majority of the world’s population to locate a wide variety of information on every topic imaginable. The effect is a more equal playing field when it comes to education that

then

has a domino effect on later standards of living.

Nonetheless

, advances in

technology

are paving the way for an increased

accumulation

Correct your spelling

accumulation

show examples

of capital by select individuals and corporations. In the past, an employee working a good job could generate most of their money from salary. Today, most income comes from reinvested capital.

This

has widened the gap between

socioeconomic

Add a hyphen

socio-economic

show examples

classes and

technology

only exacerbates

this

by replacing human jobs annually and hastening the growth of conglomerates like Google and Amazon. These companies, and their shareholders, are able to profit off existing capital while the average worker struggles to make ends meet or faces the prospect of unemployment due to technological innovation. In summary,

technology

cuts down on some societal impediments to success but erects other,

tronger

Correct your spelling

stronger

economic barriers.

This

also

partially explains the recent calls for a universal basic income to combat growing inequality.