Economic sharing concept Essay - Essay Prowess

Economic sharing concept Essay

Economic sharing concept Essay

The Sharing Economy: innovative service case of collaborative consumption


There are several innovations that have taken place recently that have been a center of focus. Among them is the economic sharing concept which is an online platform that has enable the exchange of goods and service using different applications. The main origin of this idea emerged from the thought of sharing that lead to individuals coming up with ways in which they could be able to maximally utilize the available resources that would otherwise have gone to waste. With the help of the internet a business model was developed that made the transactions so much easy and possible (Cockayne, 2016).

Overview of economic sharing

The economic sharing concept is an innovation because it took the effort of an individual to realize its utilization. Several scientific research have been carried out to prove that human beings are bound to always share so as to improve the survival of each individual and maximum utilize all the resources within ones disposal. Generosity is the basic principle upon which the society is built on and the reason for economic expansion (Watanabe, Naveed & Neittaanmäki, 2016). This is evident even as the most common world religions have the concepts of sharing at the core center of their practice as they reiterate the importance of taking care of the less fortune in the society. This concept is among the key backbone of the society and offer a framework upon which the moral fabric of the society is built on. Even though this concept has been successful in the context of the family, the society has failed to recognize the need to create a global society where sharing is highly embarrassed and practiced (Jin, Kong, Wu & Sui, 2018). For a very long time the global economic was built on self-centered principles that focused on individualistic and self-material gain that brought about unhealthy competition on resources. The imbalance that exist between the developed countries and the global south countries is a huge one that was created through centuries of colonization of the weaker nations by the powerful states (Anderson & Huffman, 2017).

economic sharing concept was innovated with the main aim of addressing this issues especially bearing in mind that  research shows that the worlds resources are almost reaching exhaustion and hence the need for them to be utilized. Economic sharing concept was seen as a bridge to the gap of inequalities among the nations that were observed for a very long time (McKay, 2017). Economic sharing is therefore a principle that is used to imply an economic alignment whereby there is an organization in the economies to ensure that resources are equally distributed among individuals that may range from a number of factors from knowledge and technology. To this there is also need for more reforms to take place in the democratic sector so as to ensure that power is equally distributed both nationally and in the global community among the main communities that make decisions in terms of policy making (Debruyne, 2017). There is an urgent need for humanity to move beyond the basic human ideologies and implement strategies that improve the human needs for the various people found in the society so as to achieve to the maximum capacity the economic sharing desired.  It is also clear that there is a need for the governments to work collaboratively so as to achieve filly economic sharing that mainly encompasses justice for all humans, the basic human rights and also proper responsibility for environmental protection. In simple terms economic sharing encompasses the formation, invention, dissemination, trade and the use of products by diverse people and organizations (Martin, 2016).

The concept of economic sharing

Historical background

Sharing has been a common practice since time in memorial. For instant, the concept of car sharing for the very first time was observed in Zurich and by the 1980s it was highly practiced in Northern Europe but on a small scale. The initiatives were however not sustainable because of the high communication cost that were incurred in the process. It is the coming up of the digital era that has initiated advancements in the same as with the speed of internet, information can be easily shared among different groups of people very easily (Murillo, Buckland & Val, 2017). It is this platform that lead to the rise of the concept of online sharing that then evolved very quickly. The sharing platform have gradually developed and they currently cover a number of  sectors that range from the transport arena, accommodation and the rental and retail, the labor market among many others. This concept affects the entire economy as they operate on factor markets and also on the product markets (Elliott, 2016). Currently there are several debates that have been triggered in support and others in opposition of the rising of this kind of platforms due to the various concerns that the different stakeholders have. There are so far so many controversies that are surrounding the rise of the sharing economy concept as many stakeholders are pessimistic about the whole idea. Even though this is so the concept continuously continues to grow beyond many people expectation with so many Ubers being introduced into the markets (Frenken  & Schor, 2017).

The concept of market sharing has greatly evolved from just a simple online platform to real income generating activity that can be depended upon by so many people. Initially the term used to describe this kind of sharing was peer-to-peer sharing but it gradually evolved to mean business-to-business

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