the sharing economy

In an IGM Forum poll of whether economists agree or strongly agree that services like Uber and Lyft are good for the economy, only 56% strongly agreed. The other 37% only agreed. (Some didn’t respond.) Meanwhile, the Guardian has printed an op-ed by one grumpy old man who hates the sharing economy:

Given vast youth unemployment, stagnating incomes, and skyrocketing property prices, today’s sharing economy functions as something of a magic wand. Those who already own something can survive by monetising their discomfort: for example, they can earn cash by occasionally renting out their apartments and staying with relatives instead. Those who own nothing, on the other hand, also get to occasionally enjoy a glimpse of the good life – built entirely on goods they do not own.

You don’t get it, grumpy old man. If the knowledge that you own an object sitting in your basement or garage gives you some feeling of pleasure or status, then more power to you and nobody should take that away from you. But for most people, I don’t think it does. The point is to get the same utility out of less stuff taking up less space. Cars are a particularly important example, because they take up such enormous amounts of space when most of them are just sitting there most of the time.

Leave a Reply

Your email address will not be published. Required fields are marked *