Comment by czl
2 years ago
> I would also put medical advances in a separate category than the internet and similar tech advances.
Why? Medical advances are technology are they not?
> But when it comes specifically to reducing economic inequality, they (tech advances) have not done that -- in fact, they have possibly exacerbated it.
Yes technological advances do not necessarily reduce economic inequality, and may even increase it in some cases. However, this is a complex issue: While tech advances may exacerbate inequality, they often bring substantial overall benefits to society (e.g. improved healthcare, communication, productivity).
Technology isn't the only factor driving inequality. Other issues like tax policy, education access, and labor markets play major roles. Rather than suppressing innovation, there are ways to more equitably distribute its gains (Progressive taxation and wealth redistribution policies, Stronger social safety nets, Incentives for companies to share profits more broadly, …)
Notice also that most technologies increase inequality initially but lead to broader benefits over time as they become more accessible. Faster rate of innovation can make it look like this is not happening fast enough so yes economic gaps can grow.
> Global poverty is a separate issue from economic inequality, and the gains there have been primarily from extremely low levels, primarily in China and India.
While it's true that global poverty and economic inequality are distinct concepts, they are interconnected, especially when considering technological advancements.
> In China this was driven by political change and also globalization that allowed China to become the world leader in manufacturing.
Yes. China transitioned from a strictly communist "economic equality first" model to a more market-oriented "prosperity first" approach and lifted millions out of extreme poverty. Yes this contributed to increased economic inequality within many developed countries that have outsourced low-skill labor. But can we deny the substantial reduction in global suffering due to the alleviation of absolute poverty? Is this outcome worth the cost of increased domestic inequality in some countries? Should we prioritize the well-being of some populations over others based on arbitrary factors like nationality or ethnicity?
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