Gig Economy by Jim Chappelow

Title - Gig Economy

TL;DR - The gig economy presents a work model that is cheaper and more efficient, but lacks the structure and consistency of traditional full-time jobs.

Helpfulness - 3

Tags - gig economy, future of work, service provider, crowding out

Questions answered:

  • What is the gig economy?

Summary:

  • Flexible, temporary jobs are the norm in a gig economy.
  • Companies tend to hire contractors and freelancers as opposed to full-time employees.
  • An advantage of the gig economy is cheaper and more efficient services.
  • Online platforms are crucial to connecting service providers with customers.
  • Gig economy can cause crowding out of workers who prefer a traditional career path.
  • Long-term relationships between workers, employers, clients, and vendors become less important and can become obsolete.

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