A few weeks ago, I’d written about inequality and the role of meritocracy in shaping its future. Another related force, whose influence has been rising rapidly, is technology. I had written about it earlier in a post – Algorithms of Wealth – and my thoughts ended in at least three directions! At least two are relevant here. In the post, I had mentioned the abundance that The Second Machine Age promises and whether the disparity we see now is an inevitable step towards that. But I had also wondered whether any notion of sustained reduced disparity is a lost cause and that as we advance further, the gaps will keep widening.
A recent HBR article titled The Great Decoupling, based on an interview with the authors of The Second Machine Age, indicates that the authors themselves now believe in the second path – while digital technologies will help economies grow faster, not everyone will benefit equally. In my earlier post I had also brought up how I had hoped that the internet would be the great leveller, and my disillusionment since then when I realised that it created its own hierarchies. (on a related note, read) (more…)