Topic > Technology and inequality: the impacts of…

For example, Rotman summarizes the views of Thomas Piketty, who believes that today's economic imbalance can be attributed to corporate executives earning disproportionately, in terms of pay versus performance ration, sums of money. Furthermore, Piketty believes that accumulated wealth also determines today's economic landscape, pointing out that when returns on capital exceed economic growth, wealthy people become even richer leaving everyone else behind with stagnant or declining wages. Another alternative view, expressed by Baker, is that politics is the main cause of current economic imbalances. He rejects the theory of technology as a loophole for elites to escape responsibility for inequality. He supports his argument by citing his own research, which indicates that job growth is in the low-skilled sector which should see strong wage increases if Autor or Brynjolfsson are right. Baker goes on to express dissent against policies such as free trade, tax cuts for elites, the weakening of unions, and the deregulation of traditional industries, which allows companies to undermine prices.