The New Opportunities Within The Gig Economy - 759 Words

Haws (2015) document the many new opportunities within the gig economy: â€Å"Enabling access to work for people who would otherwise be excluded, (e.g. people with disabilities and people in developing economies), enabling consumers to access affordable services on a just-in-time basis. Creating new opportunities for flexible ways to combine work and private life. Enabling low-cost entry into the market for new enterprises or firms trying out new products or services, thus contributing to growth and competitiveness. Enabling social innovation, creativity and self-expression and the generation of new cultural products and services in addition to helping consolidate European digital single market. † (Huws, 2015 p: 19) The gig economy therefore is arguably, a response to social and economic stability. Economist Thomas Piketty cited in Sundararajan (2015) identifies the main driver of sustained economic inequality over the past two centuries as the concentration of wealth-producing ‘capital’ in the hands of a few. Similarly, the gig economy as the hypothesis puts forth, enables the economy to be engaged by many micro-entrepreneurs, instead of a minor group of large corporations. . Having provided an overview of the gig economy, the next section will discuss factors influencing growth of this phenomenon. Factors influencing growth of the gig economy In discussing the factors which influence the growth of the gig economy, the impact of businesses within the economy isShow MoreRelatedAdvantages And Disadvantages Of Gig Workers1622 Words   |  7 Pagessurvey, the number of freelancers within the U.S. continues to grow with nearly 35% of the workforce made up by freelance employees, am ounting to nearly 55 million workers earning an estimated $1 trillion in wages. 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