Tweets on Tech and Income Inequality

Technology innovation disproportionately helps the poor more than it helps the rich, as the poor spend more of their income on products.

This sounds like it must be a controversial and politically charged position, and yet it is not -- it flows from basic economics.

The best way to understand this is by historical example: What the rich used to have and what the poor now have, due to tech innovation.

Rich have always been able to pay servants to wash dishes; due to tech change, now most US homes have automatic dishwashers.

Rich have always been able to pay servants to wash and dry clothes; now most US homes have automated washers and dryers.

Rich were able to afford to have fresh ice delivered daily to make iceboxes work; now all American homes have refrigerators.

Rich were always able to afford to hire musicians to play in their homes; now audio equipment and digital music are cheap for everyone.

Technology innovation is the main process by which luxury items become produced, packaged, and made affordable for everyone.

Opposing tech innovation is punishing the poor by slowing the process by which they get things previously only affordable to the rich.