Money makes the world go round!


In the eyes of Clay Shirky; a greater abundance has been introduced to the world economy thanks to the power of global networks, moreover the abilities that digital media allows, the freedoms introduced by the global village that is available with a click of a button enables new levels of communication and collaboration between this globalising planet that will allow a new age of scarcity.

On the alternative Thomas Piketty works on the interpretation that inequality within our globalising planet continues to rise, and the technological advancements that are all around us, enabling our progressive society have no effect on the economic inequality we are facing. Moreover Piketty outlines that the difference or gap between the rich and the poor will continue to grow, the inequalities between these groups will get worse and the classes will grow further and further apart. So, the rich are getting richer and the poor are getting poorer, in saying that there are always exceptions to the rules, those that transcend this understanding.

So at the end of the day, one must consider, will new media technologies lead to abundance or inequality?

I think it’s important to be realistic, there is potential to go either way! The globalisation and open access to this technology does in fact allow for greater communication and collaboration; however it also allows individuals to easily exploit others. At the end of the day it is either a good or bad thing. Personally I feel that these media technologies will enable abundance in some areas, and inequality in others. Overall within society, inequality will overrun the abundance allowed by the new media technologies. In turn my views align with those of Clay Shirky.

At the end of the day, the globalised world we live in is ever evolving and predicting how things will change under the new available technologies is a very difficult task.

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