Employment Opportunities of Sharing Economy-Samples for Students

Question: Discuss about the Impact on employment opportunities of sharing economy. Answer: Impact on employment opportunities of sharing economy: The sharing economy over the time has evolved as one of the main instrument for employment generation in Australia since last one decade. According to statistics 68% of the total labour force is now employed through sharing economy that depicts the importance of peer-to-peer economy in Australia (Chapman, 2018). Good side of the sharing economy: Major backer of the sharing economy often argues that social economy is simply not a business that is aimed to enhance the earning; it aids to create more job opportunity for the citizens of the country (Groen and Maselli 2016). Considering the case of the Australia, it can be stated that shared economy has really done something outstanding through societal transformation as well as labour market renovation. Australia on June 4 of 2017 has initiated its largest shared economy event in order to aid the labour force have an annual income of more than 30,000 AUD (Fraser 2017). Through proper channelling of the program sharing economy can bring in higher job opportunities to the citizens. With rising scope of participation in the labour market, sharing economy is providing opportunities to have part time jobs. In addition to this, sharing economy has provided job opportunity to the unskilled or semi-skilled labours, which is aiming to charging up the whole Australian economy. Dark side of the sharing economy: To the contrary of the sharing economy backers, it has been argued by the researchers that sharing economy is nothing but a reinvention of old capitalist framework (Chase 2015). It is operated by the institutional investors or by the venture capital firms, which are aimed to make their earning basket swell under the blanket of false promise of higher labour employment opportunity and cheaper service (Horton and Zeckhauser 2016). The selected Australian firm has desire to make their service automated, which will not only reduce the labour employment in addition will make the service more cheaper, while the operation cost will be lowered for the firm. Considering both the positive and dark side of the selected share economy attributes, it can be stated that though peer-to-peer economy is theoretically good; however it has various loopholes. From the opportunity front it has vast scope to enhance the countrys economy through higher labour employment but it is subjective in nature References: De Groen, W.P. and Maselli, I., 2016. The impact of the Collaborative Economy on the Labour Market. Chapman, B. (2018).Gig economy workers could be entitled to sick pay after plumber wins legal battle. [online] The Independent. Available at: https://www.independent.co.uk/news/business/news/plumber-gary-smith-win-legal-battle-sick-pay-pimlico-gig-economy-workers-rights-a7573186.html [Accessed 28 Mar. 2018]. Horton, J.J. and Zeckhauser, R.J., 2016.Owning, Using and Renting: Some Simple Economics of the" Sharing Economy"(No. w22029). National Bureau of Economic Research. Fraser, J., 2017.Technological progress and economic growth: An Australian exposition 1965 to 2015(Doctoral dissertation, Murdoch University). Chase, R., 2015.Peers Inc: How people and platforms are inventing the collaborative economy and reinventing capitalism. PublicAffairs.