The Occupy Movement recently celebrated its second anniversary with very little fanfare leaving many to wonder where all the activists went.
It seems they, and many anti-establishment activists, are vacating the system rather than occupying it.
Progressives may call it the “sharing economy” while Libertarians may refer to it as Agorism – a “society in which all relations between people are voluntary exchanges by means of counter-economics, thus engaging in a manner with aspects of peaceful revolution.”
Whatever it’s called, together, they’re opting out of the current socioeconomic matrix and creating a new alternative economy where trading occurs peer-to-peer and increasingly without government-issued currency.
It’s a space where mutual trade occurs without burdensome taxes, regulations, or licenses. Simply put, it’s an underground black market enabled by the Internet and regulated by social feedback mechanisms — and it’s growing exponentially.
Websites like Ebay and Craigslist first made it possible for individuals to sell things or offer services online. Then there was Elance to sell our skills and Freecycle to recycle unused items. And now there are new services that allow users to sublet their stuff; like AirBnB which allows you to rent out a room in your house, Lyft for car pooling or Relay Rides to rent out your car for an hour, or Snap Goods to rent out idle tools or anything else.
In addition to “sharing” stuff, people are shunning banks by using crowdfunding and peer-to-peer lending platforms for raising capital, and digital currencies like Bitcoin are enabling the under-the-table sale of a swelling number of goods and services.
It’s also important to acknowledge the growth of passionate silver barterers and the explosion of local food co-ops, which should be considered part of the same movement to opt out of the broken corporate-government system and they’re similarly expanding due to the internet. Local Harvestallows small farmers to sell blueberry pies nationwide or pair up with local customers for cowshares or farmshares.
The Economist describes this movement as follows:
Just as peer-to-peer businesses like eBay allow anyone to become a retailer, sharing sites let individuals act as an ad hoc taxi service, car-hire firm or boutique hotel as and when it suits them. Just go online or download an app. The model works for items that are expensive to buy and are widely owned by people who do not make full use of them.
Tarun Wadhwa of the Singularity Hub writes “The growth of the “sharing economy,” a loosely defined term generally referring to the internet-enabled peer-to-peer exchanges of goods, has brought with it a shift in the way we think about consumption. Its rise has been fast, and loud. What started with a few enterprising individuals willing to let complete strangers sleep in their homes and use their possessions has now developed into a formidable economic force that threatens to upend several different industries.”
The Latest on: Peer-to-Peer Economy
- Textile Exchange launches revamped Material Change Index tracking industry progress toward more sustainable materials sourcingon January 22, 2020 at 5:13 pm
The Material Change Index is the largest voluntary peer-to-peer comparison initiative in the textile industry and demonstrates a commitment to transparency and continuous improvement around materials ...
- How Fintech Innovations are Eroding Banking's Dominanceon January 21, 2020 at 5:34 pm
Peer-to-peer (P2P) lending does both by removing brokers from loan transactions and by directly ... Though an early entrant in the space, it’s seeing interest from investors who are in risky economic ...
- 5 Ways to Prepare Every Student for the STEM Economyon January 21, 2020 at 9:29 am
Success in our modern economy demands a wide set of skills ... every student can be successful. 3. Encourage peer-to-peer and near-peer mentoring. Creating opportunities for young people to teach one ...
- Delegates at World Economic Forum urged to commit to financial technologyon January 20, 2020 at 11:45 pm
As it celebrates its landmark 50th year, Nigel Green, founder and chief executive of deVere Group, said the World Economic Forum 2020 has the opportunity ... he said that mobile banking and investment ...
- Raising the CX Bar in the Expectation Economyon January 20, 2020 at 4:02 am
The expectation economy is understood to be the shift in how customers ... Consequently, there is an expectation that products will be effective and of a higher quality due to peer-to-peer ...
- BlackRock Sees Global Economy `Edging Up' in 2020on January 20, 2020 at 2:20 am
Philipp Hildebrand, vice chairman at BlackRock, discusses the outlook for the global economy and central bank policy in 2020. Hildebrand speaks with Francine Lacqua on "Bloomberg Surveillance" at the ...
- The sharing economy has made life easier — and better tooon January 19, 2020 at 4:54 pm
Equity crowdfunding and peer-to-peer lending connect investors directly with those needing capital. On-demand digital marketplaces empower buyers, sellers and renters. The gig economy injects more ...
- Establishing Authentic Peer Relationships In The New Economyon January 17, 2020 at 1:52 pm
By transforming the way consumers buy and sell goods and services, peer-to-peer platforms are allowing people to connect with each other in new ways; they are supporting, sharing, selling, and ...
- Real Estate 101: What Is Peer-to-Peer Lending?on January 13, 2020 at 7:09 pm
Peer-to-peer lending matches real estate investors who need funding for a project with those ... sector is relatively new -- the first one launched in 2005 -- and most platforms aren't yet profitable.
- Sustainable Brands Elevates the Stage for a Regenerative Economyon January 13, 2020 at 6:56 pm
We see transformative innovation of our organizations and culture as the path, not only for a flourishing economy, but also for our future business success ... a robust e-learning library, and peer-to ...
via Google News and Bing News