Fair Share: Reclaiming Power in the Sharing Economy
A new system of creating value is starting to have a major impact on our economy, the way we produce, the way we consume and the relationship between the two. This system is often referred to as the sharing economy, involving a spectrum of activity based on maximising the potential of our underused human and physical resources, from our skills to our things.
There are now 80 million people participating in the sharing economy in the
US while there are 23 million in the UK, and these numbers are on the rise. Global revenues have been projected to reach £230bn by 2025.
A few companies in the sharing economy are performing particularly well, overtaking established competitors in traditional industries. Yet, there are commentators who counter that these commercially successful companies are not really part of the sharing economy. Others question whether the sharing economy is actually a new phenomenon or, for example, if it is simply renting by another name.