PROFESSOR: As long as we are talking about global economies
and, uh, how globalisation has affected local economies, I want to spend a
little time touching on what I think is a brilliant alternative to the current
neoliberal economic model…the sharing economy. I know it sounds clichéd, but
there’s a lot more to it than first appears.
So, at the core of this economic model is an age-old principle, which
is, well, sharing. Now, sharing is nothing new to human culture, and is
probably an evolutionary adaptation to, you know, ensure the survival of our
species. No man is an island, right? And that’s because a human literally
cannot meet its most basic needs without others. I mean, have you ever tried to
harvest a rice field on your own?
And this notion of mutual interdependence applies to how we use what we
have as well. The ‘tragedy of the commons’ theory developed by Garrett Hardin
points out that when people act out of self-interest, they inevitably
contribute to the depletion of the resources that they depend on. Take, for
example, how wastefully we have depleted the world’s oil reserves so that we
can drive nice cars and fly to vacation destinations all over the world.
Sharing resources rather than acting selfishly actually makes sense from the
perspective of self-preservation.
Right. So, the sharing economy is an economic system designed around the
peer-to-peer sharing of assets. In some cases, this means neighbors sharing
items such as ladders or tools, items that cost a lot of money and aren’t
needed on an everyday basis. It makes much more sense if there are a couple of
ladders in the neighborhood that everyone has access to. Uh, but there are
other types of sharing too, such as bartering. One person offers an hour of his
or her time per week to teach Chinese, and then takes from someone else an hour
of massage. This may seem rather common sense, but is difficult to implement in
complex modern societies where so few people actually know their neighbors.
And you see, that’s where the innovation comes, and in the form of
high-tech solutions. The Internet and the spread of accessibility of technology
through which to access the Internet have allowed for platforms on which
complex societies can build networks. Um, there are several types of platforms
that serve such a purpose. One is social media. Just having instant access to
people throughout your local community and the world opens up avenues of
exchange. Another is crowdfunding, which is basically an online marketplace
that allows individuals to contribute financially to someone else’s dreams or
projects. Then, let’s see…ah, innovation marketplaces. Yes, these are quite
interesting. They are online marketplaces where people of different professions
can share their intellectual capital to help solve problems or develop an idea.
All of these are excellent platforms for peer-to-peer sharing, and
really take the control of assets…um, both material and intellectual…away from
large corporations and institutions. But more than just an equitable economic
model, the sharing economy is a way of building community. On a basic level,
you get to know new people in your community by renting from or bartering with
them, and people you probably wouldn’t have met otherwise in today’s world.
And, uh, participating in this sharing economy requires…requires trust. If
you’re going to let someone you’ve never met rent your car for a day, you have
to just trust that they’ll take good care of it. You might think people would
take advantage of this, but actually, people tend to be even more responsible
when that trust is afforded to them with no strings attached. So, the sharing
economy model builds up trust, which is an essential element in any healthy
society.
All right then. Um, any questions so far?