Media Changing the Wealth Distribution
Jobs have changed over the years. There are now jobs that earn people millions of dollars. The wealth distribution of the world has changed greatly in the last century. Even though other forms of technological advancements have helped reshape society, media has played a pivotal role. There have been so many changes in society because of advancements in technology. Distribution of wealth has been the greatest aspect that has been changed.
Media Creating Wealth
Media has now advanced to a stage where people can leverage its platforms to create a lot of wealth. The internet is the latest platform for sharing information. Previous years have seen a huge increase in the number of internet millionaires. Online products like Google, Facebook, Twitter and may others have made their founders enormous amounts of money. This is because of their ability to reach a large number of people. Which presents marketing opportunities.
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Media Affecting Wealth Distribution Through Politics
At the turn of the 20th-century wealth was in the hands of a few monarchs and their closest cronies. However, ideas of democracy and socialism spread throughout the world quickly. The pace at which these “radicle” ideas moved as helped by the printing press and radio. People in far places could get latest updates on the revolutions through radio and newspapers.
First to go down where the monarchs themselves. Soon it was the colonies that they had. Again media played a critical role in the motivating people in oppressed regions to seek freedom. This time radio and print were assisted by television. By the end of the 20th-century, most states had their independence.
With independence come a shift in the powers that control the resources. The result was that previously marginalized communities got control of wealth generating resources. Therefore, creating a new class of the wealthy.
Featured image by Vitaly