On Thursday, Jared Meyer from the Manhattan Institute traveled to the University of Michigan to give a talk to our YAL chapter! The event was titled “The Government's War on the Sharing Economy” and elaborated on what the sharing economy is, how useful it is to millennials, and why the government is wrong to regulate it like a normal business. Jared Meyer's definition of the sharing economy was any app or business that allows for one to get paid for something that they would do for their friends for free.
For example, Uber pays you to drive someone around whereas you would just give your friend a ride. Airbnb pays you to let someone stay at your home whereas you would just let your friend stay for free. The reason this is so good is because it opens up a whole new section of the market that couldn't afford traditional forms of travel/rent while at the same time allowing for a new type of employment that allows for workers to pick their own hours. There was a lot of thoughtful and interesting discussion after the talk and it was a great way for our school to learn more about the economics behind and reactions to this new business phenomenon.