{"id":153087,"date":"2021-12-13T20:06:05","date_gmt":"2021-12-13T14:36:05","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=153087"},"modified":"2021-12-14T16:24:46","modified_gmt":"2021-12-14T10:54:46","slug":"technology-can-either-save-or-doom-capitalism","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/technology-can-either-save-or-doom-capitalism\/","title":{"rendered":"\u201cTechnology can either save or doom capitalism\u201d"},"content":{"rendered":"\n

News<\/span><\/b>-Tech firms have a key role in preserving open and democratic society. Most often\u00a0<\/span>technology is perceived to be an enabler for democracy.<\/span>\u00a0<\/span><\/p>\n

Do Democracy and capitalism work on similar philosophical foundations?<\/span><\/b>\u00a0<\/span><\/p>\n

Although both democracy and capitalism\u00a0<\/span>uphold liberty as a core value<\/span>, they also sometimes show\u00a0inconsistencies.\u00a0While capitalism leads to an asymmetric distribution of private property ownership,\u00a0democracy has\u00a0equal civil and political rights\u00a0at its\u00a0core.\u00a0<\/span>\u00a0<\/span><\/p>\n

Governments have tried to align capitalism with democratic ideals through efforts such as progressive taxation and welfare provisions, etc.\u00a0But still as the recent World Inequality Lab report<\/span>\u00a0shows capitalism has only increased inequality.<\/span>\u00a0<\/span><\/p>\n

How new technologies have failed to deliver their promise of an equal world<\/span><\/b>\u00a0<\/span><\/p>\n

1)<\/span>Digital technology\u00a0<\/span><\/b>–\u00a0Technology,\u00a0especially the internet was perceived as a\u00a0<\/span>leveler<\/span><\/b>\u00a0that would serve all sections of society equally. The technology-enabled\u00a0<\/span>digital divide has only helped consolidate the hold of the privileged over resources.\u00a0<\/span><\/b>\u00a0<\/span><\/p>\n

Example-\u00a0<\/span><\/b>Unequal<\/span>\u00a0<\/span><\/b>access to resources and digital technology prevented many school going students to attend classes during pandemic.<\/span>\u00a0<\/span><\/p>\n

2)<\/span>Intellectual property<\/span><\/b>– It was supposed to\u00a0<\/span>foster innovation<\/span><\/b>\u00a0and usher humankind into an era that would benefit from sharing of knowledge under the protection offered by IPR.\u00a0Yet it\u00a0<\/span>has failed to deliver the results and has led to polarization of power and wealth<\/span><\/b>.<\/span><\/b>\u00a0It has on one side helped some to have supernormal profits while other are completely deprived of it.<\/span>\u00a0<\/span><\/p>\n

Example<\/span><\/b>– COVID has revealed how big pharma companies have in the times of a global crisis gave preference to their profits over a faster global recovery and saving\u00a0thousands\u00a0of lives.<\/span>\u00a0<\/span><\/p>\n

Way forward-<\/span><\/b>\u00a0<\/span><\/p>\n

If technology has to be used for the progress of democratic values and equality there is need for multilateral efforts to address the inequities. Although Individual nations have tried to make some but these are insufficient and can\u2019t be a permanent solution<\/span>.<\/span>\u00a0<\/span><\/p>\n

\u00a0<\/span> Source<\/strong>–\u00a0This post is based on the article \u201cTechnology can either save or doom capitalism\u201d\u00a0<\/b>published in\u00a0livemint\u00a0on\u00a013th\u00a0Dec 2021<\/b>.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

News-Tech firms have a key role in preserving open and democratic society. Most often\u00a0technology is perceived to be an enabler for democracy.\u00a0 Do Democracy and capitalism work on similar philosophical foundations?\u00a0 Although both democracy and capitalism\u00a0uphold liberty as a core value, they also sometimes show\u00a0inconsistencies.\u00a0While capitalism leads to an asymmetric distribution of private property ownership,\u00a0democracy… Continue reading \u201cTechnology can either save or doom capitalism\u201d<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[3837,263,10501,10581,10584],"class_list":["post-153087","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-digital-economy","tag-gs-paper-1","tag-live-mint","tag-political-philosophies","tag-technological-revolution","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1703485468},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/153087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=153087"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/153087\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=153087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=153087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=153087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}