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How Much Is the Sharing Economy Worth to GDP?
Article

How Much Is the Sharing Economy Worth to GDP?

Stefan Hall and James Pennington
World Economic Forum, 2016
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Editorial Rating

8

Qualities

  • Well Structured
  • Visionary
  • Background

Recommendation

In this intriguing, albeit one-sided, web article from the World Economic Forum, project specialists Stefan Hall and James Pennington contemplate the virtues of the sharing economy that boost economic growth but that GDP fails to measure. What the authors don’t do is delve into the negative aspects of the sharing economy that could detract from GDP. For instance, many Uber drivers would prefer the benefits of formal employment, and horror stories abound of people’s experiences renting rooms to strangers through Airbnb. Still, this overview provides a takeoff point in trying to value this new economic engine. getAbstract recommends it to executives, policy makers and others interested in the sharing economy.

Take-Aways

  • The sharing economy refers to the use of online avenues through which individuals share their assets directly with one another.
  • Conventional GDP figures fail to fully capture the value that the sharing economy adds to the total output of an economy.
  • The environment benefits from the wider use of existing resources, while “uncounted economic gains” accrue to individuals who share their goods or services.

About the Authors

Stefan Hall and James Pennington are project specialists with the World Economic Forum.

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