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Digital Economy As A Leveler

The digital economy has the potential to act as an economic leveler for developing nations by increasing access to global markets and skill-building opportunities. However, it could also become a source of inequality due to factors like digital divides, mass illiteracy, and lack of infrastructure. To realize the full benefits of the digital economy and avoid increasing inequality, countries need to invest in technology, education, vocational training, and policies that promote digital literacy and access.

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Arsalan Ahmed
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7K views2 pages

Digital Economy As A Leveler

The digital economy has the potential to act as an economic leveler for developing nations by increasing access to global markets and skill-building opportunities. However, it could also become a source of inequality due to factors like digital divides, mass illiteracy, and lack of infrastructure. To realize the full benefits of the digital economy and avoid increasing inequality, countries need to invest in technology, education, vocational training, and policies that promote digital literacy and access.

Uploaded by

Arsalan Ahmed
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Is digital economy a leveler or a source of economic inequality?

1. Introduction
The digital economy in the form of e commerce, freelancing and other internet oriented
services has provided an opportunity of economic leveler to the developing nations.
However, there are certain challenges in the form of digital divide and mass illiteracy.
Therefore, robust efforts are required to avoid digital economy from becoming a source
of economic inequality.

2. What is digital economy?


3. Digital economy as leveler for developing nations

a. Increase in economic growth and export through online businesses


Case in point: Daraz, Alibaba etc.
b. Increase in skillful opportunities of employment
Case in point: web developer, virtual assistants etc.
c. Easy access to global markets
d. Reduced cost and time in buyer and seller interaction
e. Easy access to the people of every socioeconomic background

4. Factors that can turn digital economy from a leveler to a source of economic inequality

a. Digital divide among countries and people


b. Mass Illiteracy
c. Poor digital infrastructure, internet and network problems
d. Lack of access to digital tools such as smart phones
e. Poor economic policies and decision making

5. Steps to utilize the full potential of digital economy

a. Investment in technology
b. Vocational training of people to make them skillful
c. Investment in education and use of curriculum to promote to digital literacy
d. Financial programs and packages to increase access of digital tools
e. Pro digital economy policies

6. Conclusion
Modern technology has changed the landscape of every sector, from health to education, from
transport to communication. In the same way, it has changed the traditional mode of economy into a
technology-driven digital economy. The internet has facilitated online businesses to grow worldwide.
The miraculous growth of the e-commerce platforms of Alibaba and Amazon has shown the true
potential of the digital economy. It has created a whole new industry along with contributing to the
overall economy of nations. Easy access to the internet to people increases the importance of the digital
economy for developing nations. Regardless of the huge potential of the digital economy, hosts of the
countries are unable to utilize it due to various challenges. The digital divide among countries and
people within a country puts some in a disadvantaged position. Moreover, illiteracy also hampers the
penetration of digital literacy among nations. To utilize the digital economy as a leveler, certain steps are
required. Firstly, countries need to invest in their technological sector along with up gradation of their
digital infrastructure. Secondly, vocational training and investment in education can also prove effective
for the digital economic revolution. In a nutshell, the digital economy in the form of e-commerce,
freelancing, and other internet-oriented services has provided an opportunity for economically
developing nations. However, there are certain challenges in the form of digital divide and mass
illiteracy. Therefore, robust efforts are required to protect the digital economy from becoming a source
of economic inequality.

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