The Rise of the Sharing Economy

Abstract

Examining the sharing economy as an economic framework is the focus of this article. The sharing economy as a newly emerged economic pattern has become intensively discussed in the 21st century. It differs from traditional economic patterns, in which buyers buy goods from sellers. It rather shares assets like cars and houses by providing paid service through online platforms. Two famous examples that are talked about frequently in this article are Airbnb and Uber. These two enterprises are the most successful and influential, thus becoming the representatives of the sharing economy in recent years. Additionally, this article explores the pros and cons of the sharing economy. Shortly speaking, it is more flexible, more beneficial to the producers, and more friendly to the customers. The downside of it is that it lacks government regulations which may be necessary to prevent serious event happen. Overall, the sharing economy has already occupied a huge portion of the market and still grows at a believable speed. It has a bright future and it is worth studying.