Bridging the Divide: How Knowledge Gaps and Information Asymmetries Perpetuate Wealth Inequality

 

Knowledge gap

1. You can understand the knowledge gap by learning about the difference in communication skills of people. For example, you do not read and comprehend the NASA tutorials because they require a certain level of comprehension skills. Similarly, many people exist in our society that belong to specific technology and lack the knowledge of other technology.
2. The existing knowledge reserves are not enough to deal with the changing environment. If you collect more knowledge, you will be responding faster and able to master new things rapidly.
3. In a normal city, there are many areas where the different communities of the city have wider social communication gaps.
4. Every person has their psychological mechanism, like specific exposure, memory, or acceptance. The closer to the standard technologies around him, the better his life. If a person lacks a lifestyle, it means he has a big knowledge gap.
5. In our digital world, self-media and mass communication media disseminate information with a certain depth that only those people understand who have specific levels of knowledge.
6. Scholars produce content that is consumed by those people who have a higher level of cognition.

Information Gap

The information gap refers to the adoption of new technologies in which efficiency improves one-person cognition, and by removing the information gap, he is better able to perform in society.

1. Many people use the internet, and adopting this technology does not bring the same results to every person in society.
2. Those who are information-rich are better to perform business, science, and other essential works of society. Because they are more advanced than other people, they are able to respond rapidly.
3. When the new updates arrive, the information-rich people replace the old information with new information, and their replacement duration is shorter and shorter. If a complete novice wants to learn new technology, he takes more time.

In summary, if a person reduces the information gap and knowledge gap, he blurs the line of the digital divide between him and rich people. Because he knows that he has more opportunities to participate in the new information-based economy.