The Sharing Economy
By Michael C. Munger
A third great economic revolution will come about as the sharing economy slashes transaction costs and turns almost every product into an asset with the potential to earn rental income for its owner. Although the demand for manufactured goods will fall, costing many people their jobs, the quality-adjusted price level will also fall and pressures on the environment will lessen.
|Other Independent Review articles by Michael C. Munger|
|Spring 2021||Believe in People:Bottom-Up Solutions for a Top-Down World|
|Spring 2021||Deaths of Despair and the Future of Capitalism; The Great Reversal: How America Gave Up on Free Markets|
|Winter 2020/21||Political Capitalism:How Economic and Political Power Is Made and Maintained|
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