The Sharing Economy

Hi Everyone,

Since we are well into winter, we started off with a review of winter words and phrases. We also talked about winter activities like ice skating, skiing, and sledding. But after spending some time outdoors it’s always nice to come in and warm up by the fireplace.Image result for warm up by the fireplace

We did this quick exercise on winter weather, verbs that go with winter nouns, and some winter phrases , click here to review it again.


Today’s topic was the sharing economy – which is basically an economic system in which assets or services are shared between private individuals, either free or for a fee.Related image We are familiar with Uber, the car sharing service, a prominent player in the sharing economy. The rise of technology combined with the economic needs of people launched this sharing economy. As time went on, the sociological component also became important, as more and more people started to connect with one another.  

So, we are sharing all sorts of things – like cars, meals, clothes, books, and services- like legal and medical services, and borrowing and lending money. Image result for sharing economyPeople are committed to what they are doing in these exchanges and the element that is holding it all together is trust

We watched this video Shareconomy which talks about the sharing economy, gives some examples and discusses the reason for the sharing economy and pros and cons. Take a look here:

Most of us felt this is a good thing for economic innovation and expansion. By introducing these goods and services, it makes the traditional providers look at their business models and maybe, make some changes. Still, change can be difficult. The video says that in 2020, 40% of the workforce will be “technology free lance”, which we also discussed. It’s progress. 

Have a great weekend – Go Pats! Super Bowl 51 on Sunday!!

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Remember to relax and practice!