The Implications Of A Sharing Economy Essay

2039 Words Nov 29th, 2016 9 Pages
The implications of a sharing economy are a hot topic for debate in the news and research journals and are continually being monitored through a deeper analysis of its roots; but what is a sharing economy? “A sharing economy is an economic system in which assets or services are shared between private individuals, either free or for a fee, typically by means of the Internet” (“Sharing Economy,” 2016). The course reading, I have chosen to discuss is the news article, “Debate over Airbnb and Uber reveals hypocrisy of ‘sharing’ economy” written by Jason Proctor, who discusses the controversies surrounding a sharing economy. The current housing crisis that is propagating throughout Metro Vancouver is an example of how a sharing economy can have an influence on the overall state of a larger economy. This crisis presents a monumental challenge for young adults who would like to remain in the city they have grown accustomed too; however, this possibility has started to become less of a reality and more of a fantasy. For this reason, I have chosen to focus on a sharing economy and how Airbnb can impact economic markets, legal issues, and social conflicts. The destructive impact these businesses may have on cities outside of Metro Vancouver are outside the scope of this report. Ultimately, I will analyze how social media and technology plays a critical role on the success of Airbnb, and provide suggestions for how Airbnb should be regulated and restructured to fit Vancouver.
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