Facebook Investor Peter Thiel Calls Technology A “Scapegoat” For Inequality

TechCrunch

400px-Peter_Thiel_TechCrunch50 Early Facebook investor and noted Silicon Valley libertarian Peter Thiel thinks that too many Americans have mistakenly blamed technology for rising inequality. “Technology is an easy scapegoat,” he argued, in a big-think discussion put on by political lobby, FWD.us.

In a wide-ranging discussion with MIT professor Andrew McAfee, the two duked it out about technology’s role in social ills. “I think technology has helped,” Thiel said. “You have things like Facebook, like Google–technology has helped to offset some of the brutal effects of globalization”.

While globalization has flooded the low-skilled job market with ultra-cheap outsourced labor, technology has relieved the beleaguered middle-class with services in health, education and leisure that were once the exclusive domain of the wealthy, Thiel asserts.

Indeed, he partly blamed the failure to recognize the contributions of technology on an American mindset that is “anti-technology.” For instance, he notes, there was no financial industry-like bailout…

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