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Sharing economy is one of the trending sectors among the investors and entrepreneurs, thus now the research world is taking a deeper analysis on the economical impacts of the collaborative world. A hot topic of this discussion is whether the sharing economy is bringing more wage opportunities to more people, or weather it is resulting the net displacement of the secured traditional jobs, while just creating a land of part time jobs with low paid work.
It’s a debate that continues to play across communities in the world especially in the developed world of west. Thus forcing reporters to weigh competing claims and varying in tone from boosterism to the warning of the new economy’s dark side.
According to recent studies of Alan Kruegar (professor of economics at Princeton) based on Ubers’s data finds clear benefits for “driver-partners ”, it has also helped to generate financial opportunities for hundreds of people with driving skills, further the paper helps us to understand the overall economic and social growth through technology advancement as the app has helped to boost the demand of ride services, with establishing a proper market for the consumers in low price as compared with traditional taxi companies.
Therefore resulting increase in income levels of these “driver-partners” and leading them with better living standards.
Another report in 2015 from Center of American Progress notes the heated debate in Britain over “zero hours contracts” charges that highly insecure and contingent employment leads to the exploitation of workers – the repot was co-authored by Harvard University’s Professor Lawrence Summers and Ed balls a British Labor Party MP it illustrates that technology has allowed a collaborative economy to develop in the United States and in many countries; these jobs provide flexibility to workers, many of whom are working a second job and using it to build income or are parents looking for flexible work schedules. However, at the same time, when these jobs are the only source of income for workers and they provide no benefits, that leaves workers or the state to pay these costs.”
I would like to summarize the above two findings by stating that a perfect economic scenario for everybody is not possible in any given situation, we can only desire to attain a perfect equilibrium in an economy, however we would need to think that what’s better for the majority.