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|
|Summer 2020||Property Rights:The Argument for Privatization|
|Summer 2020||Great Society:A New History|
|Spring 2020||Was Karl Marx a Public-Choice Theorist?|
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