Why Is Technology Only Improving The Frivolous, But Not Life’s Necessities?

Technology is doing wonders in some areas. In the frivolous pursuits like movies, television, video games, and other areas of entertainment, expenses are drastically reduced or given for free in exchange for the consumer’s data. Technology has also failed to reduce the cost of necessities like healthcare, transportation, housing, and food.

Technology makes entertainment easier via electronic development and expedient means of delivery on the Internet. As the Internet speed improves, the ease of delivery is increasing. Those same benefits should be effecting systems for every other aspect of life, but they are not.

One reason is that many necessities are in heavily regulated fields. The regulations are there to protect the consumer and to stop new innovators from harming the entrenched corporations already there. There should be new systems taking over aged overly complex and slow systems, but regulations act as road blocks.

The technological advances lowering costs may also be up against new challenges. Global supply disruptions, natural disasters, and inflation impede their progress and increase prices. Despite these problems some new solutions are decreasing the price of necessities. For example, Uber and Lyft disrupted the taxi services and temporarily reduced the cost and increased the domain of car transportation services. Simple greed is the only aspect rising cost in this sector now.