Summary : ' The Dark Side Of Uber ' On The Australian Economy

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ECON2011 Speech: Summary of the Article-Including title, author, date, and publisher. (5%) The article which we are presenting is one that comments on the effects of peer-to-peer services, namely Uber, on the Australian economy. Written by Greg Jericho and titled; “The Dark side of Uber; why the sharing economy needs tougher rules,” the article was published on the 18th of April this year by an established source, theguardian. Key points of the article - Describe the views written in the article and the economic concepts that are either used or implied. (15%) Within the piece, Jericho highlights two key points. Firstly, that the rapid growth of platforms such as Uber is creating a new “sharing economy” within Australia. Under this point, Jericho references the Grattan Institute to promote his view that Uber and other sharing platforms are “boosting employment and incomes for those on the fringe of the labour market” as well as “putting underused assets to work” which in Jericho’s words “can provide large benefits to the economy,” through increased activity. Whilst mentioned, he largely dismisses the possibility of reduced wages and job security for people within the taxi industry, quoting the improved competition and better service for consumers as more beneficial. The second point is more implicit and it relates to the breaking down of the taxi monopoly by the emergence and rapid growth of Uber. Jericho uses the declining value of taxi licences in Australia’s capital

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