The wide-ranging implications of the shift to a sharing economy, a
new model of organizing economic activity that may supplant
traditional corporations. Sharing isn't new. Giving someone a ride,
having a guest in your spare room, running errands for someone,
participating in a supper club-these are not revolutionary
concepts. What is new, in the "sharing economy," is that you are
not helping a friend for free; you are providing these services to
a stranger for money. In this book, Arun Sundararajan, an expert on
the sharing economy, explains the transition to what he describes
as "crowd-based capitalism"-a new way of organizing economic
activity that may supplant the traditional corporate-centered
model. As peer-to-peer commercial exchange blurs the lines between
the personal and the professional, how will the economy, government
regulation, what it means to have a job, and our social fabric be
affected? Drawing on extensive research and numerous real-world
examples-including Airbnb, Lyft, Uber, Etsy, TaskRabbit, France's
BlaBlaCar, China's Didi Kuaidi, and India's Ola, Sundararajan
explains the basics of crowd-based capitalism. He describes the
intriguing mix of "gift" and "market" in its transactions,
demystifies emerging blockchain technologies, and clarifies the
dizzying array of emerging on-demand platforms. He considers how
this new paradigm changes economic growth and the future of work.
Will we live in a world of empowered entrepreneurs who enjoy
professional flexibility and independence? Or will we become
disenfranchised digital laborers scurrying between platforms in
search of the next wedge of piecework? Sundararajan highlights the
important policy choices and suggests possible new directions for
self-regulatory organizations, labor law, and funding our social
safety net.
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