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Outside the Box: The sharing economy is creating a Dickensian world

The sharing economy benefits its creators, but this may be at the expense of those who do the work or provide the service — as well as the broader economy.

The real reasons for the sharing economy are simple.

The existing industries targeted by these platforms are frequently inefficient. Over time, regulations have accreted, evolving to serve narrow interests rather than to maintain service standards and protect users. Competition has fallen, and development has been impeded.

Proponents argue, with justification, that sharing-economy competitors frequently provide a superior product. This highlights the need to reform existing regulatory frameworks. It is not self-evident that replacing the existing system with non-professional service providers and substituting a new monopoly for an existing one is the optimal response.

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