In my eyes, innovation deepens social inequality because if gives the rich a better chance to get richer, while the poor are left behind. When new, life changing technology comes out, the upper class is able to buy it, while the lower class, and much of the middle class, is unable to afford it. For example, solar power came out and, while being better for the environment, was advertised as a way to save money on your electric bill. However, it is expensive to buy the solar panels and have them installed. This can easily cost over $10,000, and many families can’t afford that.
Does innovation tend to reduce social inequality or deepen it? Provide examples.