Question

“Technology gives birth to inequality.” Critically analyze this claim.

23 Aug 2022
Answer :
Word Count : 467

 In growing societies, long-term poverty can be explained by the concept of a “poverty trap”. Here, poverty acts as an attractor where individual wealth dynamics can be trapped in poverty's “basin of attraction”. The nature of poverty can be persistent, as individuals trapped in its basin of attraction cannot get out on their own accord. At the micro level, poverty can be conceptualized as a self-reinforcing phenomenon limiting the growth of an individual's wealth. Self-reinforcing phenomena emerge from a range of wealth-technology positive feedbacks or frictions causing wealth dynamics to be highly non-linear ______ _________ _________ ______ _____ ______ ___ ________.
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