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The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism (MIT Press), by Arun Sundararajan
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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.
- Sales Rank: #28941 in Books
- Published on: 2016-05-13
- Original language: English
- Number of items: 1
- Dimensions: 9.00" h x .63" w x 6.00" l, .0 pounds
- Binding: Hardcover
- 256 pages
Review
Information technology is disrupting a host of industries including transportation, hotels, banks, and marketplaces. The very nature of work is changing. Sundararajan offers an insightful guide to the forces shaping our economy today -- and tomorrow.
(Hal Varian, Chief Economist, Google)Fortunes have already been made in the sharing economy, yet the biggest impact on business and our daily lives is yet to come. There's no better guide to this transformation than Arun Sundararajan's book.
(Erik Brynjolfsson, co-author of The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies)Sundararajan has taken all the loose talk about the sharing economy and given it a rigorous and readable treatment. He makes it clear that there is no one model for these new economic forms, but that taken together, they represent a profound shift in how we think about everything from utility to capital to labor to employment.
(Clay Shirky, author of Cognitive Surplus and Here Comes Everybody)So all in all, a very interesting book by one the most knowledgeable researchers on the sharing economy. Well worth a read.
(The Enlightened Economist)Sundararajan knows his stuff. He's an award winning scholar who writes with a clarity that masks the compleity of his subject.
(Finance and Development)In his new book, Arun Sundararajan paints a rosy picture of the revolutionary companies and platforms that are altering the nature of work.
(Strategy + Business)Sundararajan...sees enough value in the sharing economy.
(TED)His case for optimism in his new book is compelling in large part because it comes from a business-school wonk and not a "sharing!" proselytizer devoted to the literal meaning of the word.
(The Washington Post) About the Author
Arun Sundararajan is a Professor at New York University's Stern School of Business. A recognized authority on the sharing economy, he has published op-eds and commentary in such publications as Time, the New Yorker, the New York Times, Wired, Le Monde, Harvard Business Review, and the Financial Times.
Most helpful customer reviews
3 of 3 people found the following review helpful.
A wonderful and absorbing treatise on the Sharing Economy
By Apostolos Filippas
How often do we hear about the Sharing Economy, either through daily reports of the transformation it is constantly causing in markets and long incumbent firms, or the numerous debates between its proponents and skeptics? Very, if you read news outlets like the Wall Street Journal and New York Times, or if you are an entrepreneur, researcher, or executive. Even if not, you probably have already used a Sharing Economy platform (as has a whopping 70% of the US population).
Arun Sundararajan, a professor who is an expert on the Sharing Economy, opens up by drawing from personal experience to motivate the questions that this book seeks to answer. I find his proposed “Crowd-based Capitalism” term to be a much more accurate and clear description of this economic model, but (as he does) I’ll be referring to it by the more popular Sharing Economy denomination.
The first part of the book masterfully lays out foundations that should greatly benefit anyone attempting to delve into the Sharing Economy. The journey begins with the important lessons that the evolution of Sharing Economy thinking has taught us. Sundararajan then proceeds to uncover the factors that enabled the proliferation of these platforms, centering on digital technologies and on socioeconomic drivers such us the emergence of large urban centers - cities are, after all, Sharing Economies in and of themselves. A very intuitive framework is then constructed, that allows us to treat Sharing Economy platforms as structures spanning the spectrum between hands-off marketplaces and the traditional firm hierarchy. This part concludes by giving as a sneak-peek at a fast-approaching future, where blockchain technologies promise to further empower Sharing Economy platforms and even transfer a larger share of power into the hands of the people. It is not possible to overstate the importance of the first part to anyone who wants a firm grasp of the drivers of the Sharing Economy, as well as to those who have to predict whether such platforms are likely to succeed or fail.
The second part is devoted to studying the impact that the Sharing Economy has been shown to have on the economy and the workforce. The excellent discussion of regulatory issues is one of my favorite parts of the book; Sundararajan carefully examines why current regulation can be ill-suited and might stifle innovation in Sharing Economy platforms and hinder economic growth. He then provides well-thought and innovative suggestions towards a better regulatory framework which highlight the need for worker protections and rights. I found these suggestions not only particularly interesting, but also potentially applicable outside the Sharing Economy context.
I could go on for much longer, but I will stop the spoilers here. It should be clear from the above that this is not another hagiographic book touting the latest fad. Instead, Sundararajan provides us with a concise, deep, and multidimensional study of the Sharing Economy, pointing out both the tremendous potential benefits and perils. The arguments he makes are careful and detailed, always grounded on academic research and made clear through numerous examples.
Among the strongest points of this book is that it does not only impart deep knowledge about the inner workings of this new economic system, but will also unavoidably kindle your enthusiasm for the future that the Sharing Economy promises. Sundararajan is an affable optimist, and makes an important case why we should join him.
1 of 1 people found the following review helpful.
One of better biz books of last few years
By Amazon Customer
Professor Sundararajan breaks down the social/economic impact of this seminal shift in how we consume. An easy read that provides roadmap for businesses, and individuals, re how they can be on the right side of the share economy. One of the better business books of the last few years.
1 of 1 people found the following review helpful.
Excellent book by one of the leading experts on the sharing economy.
By Steve King
Peppered with interesting examples and anecdotes from the author's extensive industry contacts and experiences, it provides an easy to read yet highly detailed look at this increasingly important sector of the economy.
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