"Technology and Inequality" via MIT Tech Review
OPEN Sustainability & Technology
by @DavidRotman via MIT @techreview
The disparity between the rich and everyone else is larger than ever in
the United States and increasing in much of Europe. Why?
The signs of the gap—really, a chasm—between the poor and the super-rich
are hard to miss in Silicon Valley. On a bustling morning in downtown
Palo Alto, the center of today’s technology boom, apparently homeless
people and their meager belongings occupy almost every available public
bench. Twenty minutes away in San Jose, the largest city in the Valley, a
camp of homeless people known as the Jungle—reputed to be the largest
in the country—has taken root along a creek within walking distance of
Adobe’s headquarters and the gleaming, ultramodern city hall. The gap
between the wealthy and everyone else is largest in the United States.
The richest 1 percent of the population has 34 percent of the
accumulated wealth; the top 0.1 percent has some 15 percent.
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