Economic opportunities for our avatars | Social Mobility in the Digital Age | L'Atelier
Kranzberg’s famous first law of technology is a comment on the role that context and circumstance have in determining technological consequence. Technology itself is bereft of intent. Intent is determined by the wielder and consequence by the environment. In a world where technology is ubiquitous, intention is determinative.
Unlike financial capital, technological capital is accessible, albeit disproportionately, to all. The broken system that has undermined income as a proxy for economic value and created barriers to accessing wealth can be circumvented by those with the appropriate skills to create technological opportunity. New digital economies have emerged to fill the gaps left by wage inflation that falls well short of both productivity and asset price inflation.
These emergent digital economies are facilitating dramatic wealth accumulation for a small few and supplemental earnings for a great many. They are the new ladders and ledges being created to replace the elevators that have been destroyed. They are, however, only accessible to those with the relevant skills and education. Many will be left behind.
