Question
In: Economics
4. Explain the relationship between technology and inequality. Focus your answer on the workers' wage share.
4. Explain the relationship between technology and inequality. Focus your answer on the workers' wage share.
Solutions
Expert Solution
There is a direct relationship between the improvements in technology and inequality in the worker's wages share. With the improvement in technology, the demand for skilled workers increases as compared to unskilled workers, and thus wages of skilled workers increases as they get good jobs and the unskilled workers remain poor.
When there is technological growth, many workers are replaced by the new machinery or tools and thus it becomes difficult for them to find a good job and then they settle for something less than they deserve. This also causes income inequality between workers.
Thus with improvement in technology the income ineaulitu or inequality in the wage share between workers keep increasing, skilled and qualified workers keep getting good jobs and the unskilled keep struggling to get even a low wage job that they don't desreve.
Rahul Sunny answered 2 years agoRelated Solutions
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A researcher wishes to examine the relationship between wage
earned and educational level of workers. For a sample of 4000
workers she has data on hourly earnings (measured in Dollar), age
of the worker (in years), worker’s gender, years of experience,
number of years with the present employer, size of the firm in
which the worker is employed, and highest educational qualification
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A researcher wishes to examine the relationship between wage earned and educational level of workers. For...
A researcher wishes to examine the relationship between wage
earned and educational level of workers. For a sample of 4000
workers she has data on hourly earnings (measured in SAR), age of
the worker (in years), worker’s gender, years of experience, number
of years with the present employer, size of the firm in which the
worker is employed, and highest educational qualification (with 4
classifications: no qualification, secondary school certificate,
bachelor degree or PhD)
Explain how you would set up...
A researcher wishes to examine the relationship between wage earned and educational level of workers. For...
A researcher wishes to examine the relationship between wage
earned and educational level of workers. For a sample of 4000
workers she has data on hourly earnings (measured in SAR), age of
the worker (in years), worker’s gender, years of experience, number
of years with the present employer, size of the firm in which the
worker is employed, and highest educational qualification (with 4
classifications: no qualification, secondary school certificate,
bachelor degree or PhD)
Explain how you would set up...
A researcher wishes to examine the relationship between wage earned and educational level of workers. For...
A researcher wishes to examine the relationship between wage
earned and educational level of workers. For a sample of 4000
workers she has data on hourly earnings (measured in SAR), age of
the worker (in years), worker’s gender, years of experience, number
of years with the present employer, size of the firm in which the
worker is employed, and highest educational qualification (with 4
classifications: no qualification, secondary school certificate,
bachelor degree or PhD)
Explain how you would set up...
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