Life and the Sharing Economy

Global Consilium

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The rise of social media, smartphones and the overall interconnectivity of a globalized world are sweeping away conventional trade relations. While the term “Sharing Economy” is new to many, the idea behind the concept is pretty simple: it’s a system of sharing, of people renting things from one another with the help of technology. Although the term is relatively new, the impact the “sharing economy” is having in the world economy is increasing at a fast pace. The sharing economy is already leaving billions of dollars in revenues and has become a huge game changer for governments, citizens and businesses alike.

Companies like Airbnb or Uber, have found ways to market, share, and profit from people’s personal belongings. Through the sharing economy, a single commodity like a car or bike can be shared multiple times by multiple individuals. Whether one’s own house, apartment, car or even clothes, the sharing economy…

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