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The lowest amount of divide occurs between the Commonwealth of Independent States with 91% of the younger age group using the internet compared to 83% of people aged 25 years or older. In addition to being less connected with the internet, older generations are less likely to use financial technology, also known as fintech.
The Digital Divide refers to the gap in exposure to technology needed to access the internet and online resources amongst a population. This gap leads to a decrease in the standard of living for those without access to technology while the standard of living for those who do have access to technology increases exponentially. [86]
A pulse survey in November 2020 reported that for almost 80 percent of 2000 respondents aged 18+ in the US and UK internet has become more important in their lives as a result of the pandemic. [61] Only 18% of enterprises in the United States have incorporated advanced digital technology or invested in digitalisation in response to the pandemic.
The widening gap between the nation's rich and poor is leaving the U.S. economy more vulnerable to recurring financial crises and less likely to generate enduring expansions, reports Bloomberg.
Three economists were awarded the Nobel Prize Monday for their research into how the nature of institutions helps explain why some countries become rich and others remain poor.
Since the late 1970s, income inequality in the U.S. has grown by nearly 20%. The Great Recession has brought the disparity between the rich and the poor to the forefront of the news. The Occupy ...
For this reason, some kids are being separated and not receiving the same chance as others to be successful. [27] Democracy – Some people believe that eliminating the digital divide would help countries become healthier democracies. They argue that communities would become much more involved in events such as elections or decision making. [28 ...
A December 2011 Gallup poll found a decline in the number of Americans who rated reducing the gap in income and wealth between the rich and the poor as extremely or very important (21 percent of Republicans, 43 percent of independents, and 72 percent of Democrats). [191] Only 45% see the gap as in need of fixing, while 52% do not.