Together, Geographies of Information Inequality in Sub-Saharan Africa. Inequality at the top 10% and 1% needs to be considers, and this is often overlooked in research analysis which is often fixated on comparatively small redistributions between the bottom 10 or 20%. Daily life in developing countries (published on Mondays). But, Piketty argues that these conditions fostering lower inequality are coming to an end, not least in the US and Europe, with demographic slowdown and slower growth. However, he also admits that such a tax is impossible to implement today because it would require contributed to D+C/E+Z in spring 2016 as the EU Marie Curie Postdoctoral Fellow at the Media Lab at the Massachusetts Institute of Technology and as a research fellow at the chair of economics of innovation at the University of Hohenheim. The World Bank’s annual flagship is always a big moment in wonkland, and there has been a … Such steps are needed to reduce poverty and inequality in the long run. Rogers defines the digital divide as “the gap between individuals who benefit from the internet and those who are relatively disadvantaged with regards to the internet” and relates it to the concept of intellectual capital and the knowledge divide. But, this effect is seen as declining as part of the declining g. So, this position questions the centrality often placed on innovation and technology. Piketty argues that inequality increases when the return on capital (r) exceeds the rate of economic growth (g) in society. On the issue of power sharing in firms, Piketty proposes a 50-50 split between workers and shareholders, like in Germany today. http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2016/01/13/090224b08405ea05/2_0/Rendered/PDF/World0developm0000digital0dividends.pdf. On the other hand, multinational corporations in advanced nations are purposefully investing in the knowledge-based Industry 4.0. Economic growth is currently stalling in several large developing and newly-industrialising countries. What we did take from this work, is that it provides a powerful reminder on how unequal society is. digital divides and explains some of the problems developed economies faces in overcoming these divides. Thanks and best wishes, New York: Routledge Studies in Development Economics. Piketty & Saez, 2008). Human labour is being replaced by machines and algorithms. Standard economic policies – whether redistribution or austerity – cannot suffice. In the wake of the Financial Times vs. Piketty debate, we discussed some of Piketty’s figures, particularly those presented in Chapter 10. The Internet is expanding very quickly, and not all … From a policy-maker's perspective, digital literacy allows the members of a society to partake in the opportunities provided by its intellectual wealth, and would ostensibly lead to more sustainable growth and development. The digital information flood is creating new problems of its own. A key risk is that in the future, existing wealth will continuously accumulate much faster than growth. What of the growing cross-national links, networks of production, tax havens and financial flows? http://www.oxfordmartin.ox.ac.uk/downloads/academic/The_Future_of_Employment.pdf, http://www.economist.com/news/united-states/21591190-united-states-amoeba, http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2016/01/13/090224b08405ea05/2_0/Rendered/PDF/World0developm0000digital0dividends.pdf. In addition to the trend of capital accumulation that Piketty describes, another trend is likely to drive inequality further: the next wave of significant structural change has started thanks to intelligent machines and digitalisation. New technologies also seem to be hardening the fronts in political controversies, as is evident in social media debate in Turkey or Brazil, for instance. As a result, productivity is being reduced. However, they also open up new opportunities. [email protected] Thomas Piketty (French: [tɔ.ma pi.kɛ.ti]; born 7 May 1971) is a French economist who is Professor of Economics at the School for Advanced Studies in the Social Sciences (EHESS), Associate Chair at the Paris School of Economics and Centennial Professor of Economics in the International Inequalities Institute at the London School of Economics. He does include a number of discussions around how these link to global flows of capital, but at the end of the day these take a back seat to national processes as the key units of his analyses. For our inaugural discussion around “connectivity and inequality and inclusion” we decided to jump in the deep end and tackle the 600+ pages of Piketty’s much hyped “Capital in the Twenty First Century”. Thomas Piketty is a French economist who is Professor of Economics at the School for Advanced Studies in the Social Sciences, Associate Chair at the Paris School of Economics and Centennial Professor of Economics in the International Inequalities Institute at the London School of Economics. The digital divide refers to the gap between those able to benefit from the digital age and those who are not. Ultimately, Piketty argues, this will undermine the democratic values underpinning society. Interdisciplinary approaches are needed to rise to these complex challenges. Linked to this, Piketty’s study is primarily at a national level. The World Economic Forum is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas. Digital Divide: Marked Disparities in Computer and Broadband Internet Use and Associated Health Inequalities in the United States. http://www.hartmado.com. How economic diversification and social networks affect human agency and welfare. Piketty, T., 2014: Capital in the twenty-first century. African digital labour and contemporary global capitalism, New Article on Labour Agency in the Gig Economy: Evidence from Africa, Digital Labour at Economic Margins: African Workers and the Global Information Economy. In practice, they need to complement one another in order to foster sustainable development (Hartmann 2014). Speth MM, Singer‐Cornelius T, Oberle M, Gengler I, Brockmeier SJ, Sedaghat AR. If we take another common indicator, the inter-decile ratio S90/S10, which compares what the most favoured 10% and the least favoured 10% receive on average, France is even better positioned. Further, Piketty’s approach through existing quantitative data, performing longitudinal/time series analysis and sharing data and methods, should remind us of the power of such collection and analysis in our work. The notion of the ‘digital divide’ between the global South and North, while much discussed in academic and policy literature raises … What is the potential Impact of the Digital Divide The current trend of development, especially in the area of information and communication technology (ICT) has resulted in essential changes in many areas of life and societies on the global platform (Monroe, 2004). Unfortunately, few people have been able to take advantage of these opportunities so far. Sustainable development requires global awareness and local action. Social media often become echo chambers that repeat the same information over and over again. OK, book done, back from recuperative holiday, time to get back to daily blogging. Thomas Piketty’s book (2014) about inequality in the 21st century shows that the capital gains the top 10 % earn are systematically rising faster than wages. It is difficult to be convinced of a narrative where these processes which some of us see as central in the modern world were effectively sidelined. On the one hand, intelligent machines and algorithms can replace many jobs previously performed by the middle class in industrialised countries. Face-to-face interaction of people with different backgrounds and knowledge is as important as ever. do You know our newsletter? Frey, C. B. and Osborne, M. A., 2013: The future of employment: How susceptible are jobs to computerisation. New York: Simon & Schuster. The most favoured receive about 7 times more than the least favoured, compared to 21 times in Mexico, 19 times in the United States and 10 times in the United Kingdom. For those of us who come to such work from a technological perspective there is surprisingly little meat to chew on. In recent decades, the widespread use of computers and the Internet has caused a For me the figures presented here are astonishing, and highlight contrasting societal level. Piketty (2014), for example, proposes a progressive global tax on wealth of up to 2 %, and additional income taxes. After the 1950s we see Piketty’s U shape: the idea that development will lead to a decrease in inequality does not hold. As a consequence, economic inequality is growing, and personal wealth is less and less an indicator of hard work and achievement. The concern is that people without access to the Internet and other information and communication technologies will be disadvantaged, as they are unable or less able to obtain digital infor