Professor Arun Sundararajan Discusses the Future of Capitalism with Rana Foroohar of Time Magazine
—
Nearly 300 alumni, students, and faculty gathered in Paulson Auditorium for a discussion between Arun Sundararajan, Professor of Information, Operations and Management Sciences, and Rana Foroohar, Business & Economics Editor at Time Magazine, about Professor Sundararajan’s new book, The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism. Ms. Foroohar is the author of Makers and Takers: The Rise of Finance and The Fall of American Business which she characterized as an outline of the problem for which The Sharing Economy offers a solution.
Dean Peter Henry offered introductory remarks to the buzzing audience before Professor Sundararajan and Ms. Foroohar delved into discussion about the economic and social implications of crowd-based digital platforms like Airbnb, Uber and BlaBlaCar, which have begun to activate dormant corners of commerce and community.
Professor Sundararajan and Ms. Foroohar agreed that the concept of a ‘gig economy’ is not new, but its recent digitization has allowed for economic and social paradigm shifts. “It’s about scaling that old gig economy and putting it into a form that can compete with industrial capitalism,” Professor Sundararajan explained. It was clear to the audience based on Professor Sundararajan’s comparisons of Airbnb to Marriott-Sherwood and of BlaBlaCar to Amtrak that these crowd-based platforms are providing viable alternatives to their traditional counterparts.
Ms. Foroohar and Prof. Sundararajan explored how regulation will unfold in a trust-based, continuously decentralizing economy. Prof. Sundararajan, who described himself as cautiously optimistic, said he looks to the potential for more equal distribution of wealth as a signal that the sharing economy will bring growth as opposed to slow down.
Engaged audience members asked a number of questions that provoked thoughtful conversation about the future of work. A cocktail reception and book signing gave alumni, students and faculty a chance to continue their conversations and reflections.
Media Coverage for The Sharing Economy
Related Articles
Dean Peter Henry offered introductory remarks to the buzzing audience before Professor Sundararajan and Ms. Foroohar delved into discussion about the economic and social implications of crowd-based digital platforms like Airbnb, Uber and BlaBlaCar, which have begun to activate dormant corners of commerce and community.
Professor Sundararajan and Ms. Foroohar agreed that the concept of a ‘gig economy’ is not new, but its recent digitization has allowed for economic and social paradigm shifts. “It’s about scaling that old gig economy and putting it into a form that can compete with industrial capitalism,” Professor Sundararajan explained. It was clear to the audience based on Professor Sundararajan’s comparisons of Airbnb to Marriott-Sherwood and of BlaBlaCar to Amtrak that these crowd-based platforms are providing viable alternatives to their traditional counterparts.
Ms. Foroohar and Prof. Sundararajan explored how regulation will unfold in a trust-based, continuously decentralizing economy. Prof. Sundararajan, who described himself as cautiously optimistic, said he looks to the potential for more equal distribution of wealth as a signal that the sharing economy will bring growth as opposed to slow down.
Engaged audience members asked a number of questions that provoked thoughtful conversation about the future of work. A cocktail reception and book signing gave alumni, students and faculty a chance to continue their conversations and reflections.
Media Coverage for The Sharing Economy
- Charlie Rose: The Sharing Economy
- WSJ: Sharing Economy Expert Says Social Safety Net Must Be Revamped
- Washington Post: What happens when we all become our own bosses
- Salon: Expanded trust made the sharing economy: "It creates the possibility of getting into a stranger's car"
- Quartz: The author of "The Sharing Economy" on Uber, China, and the future of work
Related Articles
- Time: I Now Have Scientific Proof of How Awesome I Really Am
- Marketwatch: Buying a house as an Airbnb investment strategy is a risky move
- WSJ: Want to Book an Airbnb Stay? Not So Fast
- Time: Inside Airbnb's Plan to Build a Grassroots Political Movement
- Fortune: What Governments Can Learn From Airbnb And the Sharing Economy