Does Technology Lead to Poverty? The Real Price of Our Tech Dependence

The debate over whether these voice-activated gadgets encourage individuals to forgo basic pleasures like reading books or going out to supper makes consumers poorer rather than wealthy and has pushed this problem back into the forefront.

Let's hope that if you love your iPhone—or any other piece of technology, for that matter—it isn't driving you into debt. Because relying so much on these kinds of devices might have significant drawbacks.

At times, the societal repercussions are rather frightening. When we spend most of our time in front of a screen, we become loners. And when we exclusively use emojis to communicate instead of using actual words and facial emotions, we turn into sociopathic monsters with no empathy.

An overview of technological development and its effects on human life

Many of us remember playing with toys as kids, making model cars or aircraft, or reading books and comics. In our leisure time, we spent hours exploring the outdoors.

Children then utilised their curiosity and ingenuity to explore their environment and create their own enjoyment because there were no digital games or applications available. Computers and the internet spread as we grew older. Our lives underwent a tremendous transformation as a result. We utilised computers for work and school assignments and had less free time.

There are also fewer books in print and an increase in smartphone use. Now, anybody, everywhere can easily access the internet and social media. Additionally, we have access to text messaging and phone calling at all times and places. Not to mention the development of wearable technologies. We can now monitor our fitness levels, heart rates, and other health indicators while exercising. Smartwatches and other wearable technology are helpful for organising our daily schedules.

Is technology making us poorer?

There are a number of ways that technology can be impoverishing us. For some people, it costs a lot of money to get a high-end equipment that is up to date with software.

Additionally, there may be additional fees for things like monthly streaming media content subscriptions. And because technology ages fast, you might need to upgrade your equipment frequently.

Lost opportunity: Because you won't have the same work ethic as someone who isn't attached to a computer, technology might make it harder to get a job or a promotion.

Spending less time with friends and family - If you're always glued to your smartphone, you might not be seeing them enough.

Gaining weight - Using a gadget for an extended amount of time causes you to form poor habits and frequently forget to exercise or eat correctly. – Poor sleep - If you use a gadget right before bed, you could not get enough sleep.

What impact does technology have on our buying patterns?

Consider that you enjoy using subscription-based services like Amazon Prime or using a digital wallet to pay for products and services or to buy online. It's possible that you are unaware of your expenditures.

You can wind up paying more than you wanted to since the actual quantity is frequently ambiguous. Additionally, you could be more open to data thieves like hackers.

Additionally, by using plastic cards that are not biodegradable, you are harming the environment. Retailers have been compelled to alter their business strategies as a result of digital wallets and internet purchasing.

For instance, many merchants now provide "guilt-free" rates that are not reduced. Because they are unable to compete with internet shops, several businesses have even completely erased their pricing tags. This move may harm nearby firms, lead to a loss of employment, or reduce employee pay.

The amount of money we spend on technology

Consumers spend the same amount per month on cable TV, home Internet access, cell phone service, and digital subscriptions as they do on rent or a mortgage: $166, according to the American Institute of CPAs.

Additionally, Americans spend an average of $38 each month on digital goods including two applications, two games, and two eBooks in addition to music, movies, TV episodes, and other digital content.

Australian spending on connectivity

Australians are paying a hefty price to stay connected—$46.3 billion, to be exact. If your New Year's resolve is to do the same, checking your internet, cell phone, and streaming connections would be a good place to start.

Australian streaming revenue breakdown:

$642 million monthly

$1.15 billion is spent monthly on mobile.

Every month, $2.06 billion is spent online.

Spending by Individuals - Average Lifetime Spending

78, 000 dollars online

$41,800 for cellular and

Streaming services cost $19,300.

Each Australian must pay a total of approximately $139,000 to stay connected.

How does technology affect our health?

Technology is making us unwell, according to health experts. Many individuals don't get the necessary amount of sleep because they are addicted to their devices. They thus have a higher likelihood of experiencing exhaustion, anxiety, and sadness.

Because they don't get enough exercise, babies and toddlers who use tablets and smartphones as they become older are more likely to develop obesity. Additionally, kids don't learn how to control their emotions, which increases the likelihood that they will act out.

With the popularity of smartphones has come an increase in "death by selfie" incidents, in which individuals have been killed by wild animals or have fallen from cliffs while snapping pictures.

How does technology contribute to our misery?

Many research demonstrate how technology is making us unhappy:

• We don't develop empathy - If you just use emoticons, GIFs, or phoney words to interact with others, or if you spend all of your time watching films on YouTube or Netflix, you won't understand the meaning behind non-digitally encoded words and facial expressions.
• We don't reach our full potential because we don't have time to pursue our individual hobbies and goals while we're always online.
• When there is nothing fresh to discover or do, we get stuck in a rut and get bored. We are also more prone to depression.
• We become loners - As we spend more time online, we have less time to interact with people in real life. As a result, we rarely engage with others or form genuine friends. – We become unaware of time.

When we're having fun, time flies. It's simple to lose track of time while browsing social media or viewing videos for hours on end.

The connection between addiction and technology

The Brain and Mind Center at the University of Sydney claims that technology is widely used in many aspects of everyday life, including leisure and social pursuits. Personalized alerts enable high degrees of accessibility and connection with daily life, and technological goods are becoming more immersive and convincing.

According to the University, excessive use of technology can have a detrimental impact on people's physical, emotional, social, and economic health.

Summary

As you can see, there are several ways that technology is impoverishing us. Therefore, it's crucial to utilise technology responsibly and take enjoyment in other aspects of life. It's crucial to keep in mind that the real cost of technology goes beyond the purchase price of the hardware. It's also how much time, money, and energy we devote to it, how it impacts our relationships and health, and how much time we devote to it.