Essay about Why the Rich are Getting Richer and the Poor, Poorer

1558 Words 7 Pages
The report of Robert Reich: “Why the Rich are getting Richer and the Poor, Poorer,” is an eye opener and a warning for society regarding unemployment that it will be facing and is currently facing due to a lack of technology and education. It clearly articulates that the jobs of routine producers and in-person servers have vanished totally as modern techniques have replaced them. The author has stated that the only people whose jobs are on the rise are symbol analysts. As stated in the report, symbol analysts are the real problem solvers. Their skills are highly in demand worldwide because they are the ones who first analyze the problem and then solve it. The Hart Report, on the other hand, also states the same problem of unemployment …show more content…
The impact of technological advancement and the whole world “going global” is immense. AT&T stopped hiring workers in Shreveport and switched to Singapore and later from Singapore to Thailand because of the cheap routine producers available there as compared to the ones in previous locations. Moreover, an important reason for the decline of routine producers is the rise in the number of Keypunch operators all over the world and their willingness to work at much lower wage rates than the ones prevailing in the U.S.A. Texas Instruments started hiring routine programming technicians in India and linked them to its Dallas headquarters via satellite as India has a large English-speaking population of technicians who are willing to work at a lower wage rate. The reason behind this shift of jobs from advanced to developing nations, which created a great recession in the advanced economies, was the globalization and advancement of technology. This advancement made the employers remain in contact with the whole world with the help of some optical wires and satellites and they started hiring workers who were ready to work for a lower wage. A similar drastic change came about in the employment sector of the in–person servers as well. Introduction of new labor-saving machinery such as automated tellers, robotized vending
Open Document