Benefits Of The Sharing Economy Across The Globe

2258 Words10 Pages
Since its inception a few years back, there has been much debate about the costs and benefits of the sharing economy across the globe. Much of the debate was focused on the fact that allowing people to share and use existing resources would be harsh for businesses everywhere. Not only businesses would be affected, but it will also undermine the much needed development in local communities and to a larger extent it will have a negative effect on people’s income and government taxes which, if left unopposed can be catastrophic for the overall economy. Most recently, however, studies are revealing a shift in paradigm suggesting a mirrored effect is happening throughout the world. Researchers, economists, and social scientist are intrigued by the accomplishment of people putting underused resources to work. New studies into recent accomplishments, profitability, and the carbon footprint of the sharing economy have highlighted the fact that this new business model is attracting thousands of new startups from different industries such as hospitality, transportation, consumer and business lending, and others. It also provides insight into why companies such as Uber, Airbnb, Task rabbit, Lending club, and Zaarly have grown tremendously and have contributed enormously to not only shareholders but more importantly, to all stakeholders. As such, opportunities presented by the sharing economy should not be easily ignored instead it should be look at carefully as it provides great
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