While technological innovation has replaced jobs for decades, it has always created more jobs than it has destroyed.
This change has gathered momentum ever since, and the exponential nature of technology is now accelerating this development. today is about the same as it was in 1995 - has led to the conclusion that the tech sector is greatly contributing to increased inequality.Īccording to The Second Machine Age, by Erik Brynjolfsson and Andrew McAfee, this has been a slow train coming since the 1980s, when the PC invaded offices and homes. The chasm between tech multi-billionaires and the rest of the population in Northern California - where an estimated 31 percent of jobs pay $16 per hour or less and the median income in the U.S. The disparity between the rich and everyone else is larger than ever in the United States, and few places is this skewed wealth distribution more visible than in and around Silicon Valley.
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