Global Financial Crisis : A Social And Economic System Driven By Network Technologies

Entrepreneurs use innovation to exploit or create change, such innovation provides opportunity for making profit. They do this by shifting economic resources from an area of lower productivity into an area of higher productivity and greater yield, accepting a high degree of risk and uncertainty in doing so. (Burn, 2011)

The intended audience for this piece of writing is struggling entrepreneurs. These employers or owners can belong to either big business or

Sharing economy is a new trend, which has happened with the global advent of Social Media and the peer-to-peer network. It is affecting different aspects of the Hospitality Industry. It allows people to share their belonging or services with strangers, in an online trust-rated way. “The Sharing Economy is a socio-economic ecosystem built around the sharing of human and physical resources. It includes the shared creation, production, distribution, trade and consumption of goods and services by different people and organizations” (Matofska, 2015). The two main examples of shared economy that brought huge debates to the world’s media nowadays are Uber and AirBnb. These shared economies, which allow peer-to-peer exchanges throughout technology,

This document is authorized for use only by Rachel van Munster in Entrepreneurial Law and Finance taught by Rafael P. Ribas, at HE OTHER from February 2015 to March 2015.

Additionally, AskforTask practices the idea of collaborative consumption, also identified as a sharing economy. The notion emphasises

The marketplace, in our society, is a great place to make big profits, but if you fail, can also leave you broke. We learned about the risk of taking out large loans, which is why our business took out a small loan, instead of taking a larger loan to more widely expand our business. Because our business was providing a service we learned that the services must be either in high demand, or priced higher to earn enough money to be a viable business. We now have a new appreciation for capitalism and the entrepreneurs in our society who help grow the economy, understanding that starting a business takes lots of time and tolerance for

World economies are fluctuating to the point where people don't know if they will lose their jobs or keep them. When an economic downfall hits, people don't know if or how they will survive. This has made the idea of seeking alternative incomes more desirable just in case things goes belly-up. However, there are many people who have great recession-proof jobs and want to make a little extra cash on the side. Earning a secondary supplemental income has become the answer for many problems related to a lack of money. Cashing in on the idea of making money online with minimal effort is what make passive income so desirable to

All of these factors are contributing to a new global outlook and sense of responsibility for the planet and its people. This attitude shit has already affected consumer choice – particularly in the food market and is now bleeding into other product markets, including clothing. Society attitudes have started to shift towards a less capitalist – oriented and more pragmatic one, in backlash to the over-materialistic world we now live in, and the unequal disposal of the world’s economy. WGSN identified two key consumer groups: “Cloud surfers – who want to be in charge of their participation in social networks, collaborative experiences and collective actions, rather than being controlled by them…they want to identify where goods come from and

Amy Westervelt’s article “Bike-Sharing Grows Up: New Revenue Models Turn a Nice Idea into Good Business” explains how bike-sharing programs have become a success and how they have simply failed and how great they are for our community. The bike system in Ojai was mismanaged and was not successful, the program became mismanaged and the bikes were being stolen. Then she read about Paris creating a bike-sharing program in 2007, and negative vibes began to arise. As there are many different bike-sharing programs in the united states, there all a little different from one another. The programs have changed throughout the years. Bikes have become cooler, systems become easier to use, and the businesses have much better management. There has become

Uber, Lyft, Sprig and Airbnb are popular examples of businesses that are part of the new, techno-driven sharing economy that makes participating as simple as a tap on a smartphone.

Gig economy has grown fast and gotten big in recent years. It means that a worker is hired by a digital marketplace. This economy has expanded for a large number of people around this world and has given some new services. For example, some ride services such as Uber or Lyft as well as the home sharing sites which are Airbnb and Home Away. All these services have increased popularity for people. Many people are now working in a gig economy because they have the ability to choose how much to work and when to work. they can set their own hours to work. They also can move around into different places. The researches shows that “roughly 0.5 percent of workers now earn money through gig work.” Most of them are taking gig approach to earn money.

During the Reagan administration people began to believe that it was not necessary to completely depend on industry for their wages. Therefore, millions of Americans began to start their own businesses, and many of them prospered significantly because of the inclusion of computers, and advanced technology that was beginning to become an integral part of society. Just like the entrepreneurs of the nineteenth century who understood that industry was the “new” frontier in the American landscape, the independent business owners in the 1980s were beginning to visualize just how significant inventions like the Internet, and computers were within society. Therefore, many individuals jumped into business for themselves, and have been becoming more successful with each passing year. In other words, the struggling worker of thirty years ago took a chance when the opportunity presented itself, and it has been paying off ever since.

“Enabling access to work for people who would otherwise be excluded, (e.g. people with disabilities and people in developing economies), enabling consumers to access affordable services on a just-in-time basis. Creating new opportunities for flexible ways to combine work and private life. Enabling low-cost entry into the market for new enterprises or firms trying out new products or services, thus contributing to growth and competitiveness. Enabling social innovation, creativity and self-expression and the generation of new cultural products and services in addition to helping consolidate European digital single market. ” (Huws, 2015 p: 19)

Rent is typically just seen as payments toward temporarily owning something. However, Stephan Adair says that rent is more than that, “it is a return on an asset that can be realized because an owner controls the supply” (p. 16). Individuals usually pay more rent on an item than it cost to make the product (p. 16). Rent costs more than the production of a product because people need to make a profit off the item. Rent is significant in efforts to commodify information because, “the ubiquity, the homogeneity, the branding, the celebrity endorsements, and the universality are precisely the conditions embedded in the rent collection apparatus” (p. 16). It is possible to accumulate money when rent is gathered on commodities that could have been

In the 21st century humans are presented with means to impact their societies potential in a greater way than ever before. With new technology, individuals have astounding control over the foundations of social value. One of the most powerful tools to mold these foundations is the Internet. After its creation in the 1950s, the Internet has witnessed excessive and continuous growth. As more and more people become part of the Internet’s population its power to shape society’s capital. To examine this power the definition of social capital must be clarified. Former president of the American Political Science Association, Robert Putnam explains in his book Bowling Alone: The Collapse and Revival of American Community that “social capital