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Barriers to Growth in the "Sharing Economy"
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Barriers to Growth in the "Sharing Economy"

Denise Cheng
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8

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  • Innovative

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Popular online peer-to-peer platforms like Airbnb and Etsy allow users to generate income from their personal assets, skills and creativity. However, earning a wage using such platforms comes with its own problems. MIT researcher Denise Cheng provides an overview of the “peer economy” and discusses the advantages and barriers it poses. She suggests changes that the government and the platforms could implement to create a conducive business environment. getAbstract recommends her conclusions to policymakers, platform owners and independent contractors.

Take-Aways

  • The “peer economy,” which consists of a group of “peer-to-peer marketplaces,” is part of a broader sharing economy. It offers service and asset providers several advantages, such as flexibility and an alternative source of income.
  • Despite these benefits, financial, regulatory and expertise barriers limit provider participation in the peer economy.
  • Financial barriers include wage theft, reduced wages as a result of providers’ inability to differentiate their offerings from each other and the inability to benefit from economies of scale.

About the Author

Denise Cheng, an MIT researcher, has a background in community building, the future of news, and the workforce in the peer economy – specifically, support around the growing pool of workers who depend on piecemeal income.

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