John O. McGinnis, the George C. Dix Professor in Constitutional Law at Northwestern University, says we are in the midst of a sharing economy, and that’s a good thing. (Don’t get all socialist on me; a sharing economy is one driven by service and technology. We are not going to have to pool our food in the commune.) McGinnis says this type of economy is good for liberty as well.
There are three basic features of a sharing economy:
- It reduces costs, by matching up real-time idle services and resources with people in need.
- It employs the hard-to-employ, say, people who need a very flexible schedule.
- It creates new jobs – jobs that didn’t exist before.