Tomorrow 3.0, Deal Costs and the Sharing Economy

With the growing appeal of apps such as Uber and Airbnb, there has actually been a keen interest in the rise of the sharing economy. Michael C. Munger brings these brand-new trends in the economy down to earth by concentrating on their relation to the basic economic idea of transaction costs. In doing so Munger brings a fresh viewpoint on the ‘sharing economy’ in clear and engaging composing that is accessible to both general and specialist readers. He shows how, for the first time, business owners can sell decreases in deal expenses, instead of reductions in the expenses of the items themselves. He forecasts that mobile phones will be used to commodify excess capability, and reaches the controversial conclusion that a standard income will be needed as a repercussion of this new ‘transaction expenses revolution’.

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