Disconnect between GDP and progress. The Sharing economy could trigger the shift away from GDP
- There’s a lot of value from psychological progress: consumer surplus. GDP doesn’t measure that.
- Distribution: it’s not measuring inequality
- Other quality of life measures: work-life balance, flexibility, other opportunities
Impacts of Sharing Economies
- Increasing through efficiencies
- Greater variety leads to increased consumption
- Shifting from employees: providers of labor, to owners of means of production: could decrease inequality.
- We may lose economies of scale, but we will regain.
Transitions to firm-market hybrids