A new and alarming mash-up of Silicon Valley technology and Wall Street greed is thrusting upon us the latest economic fad: the so-called "sharing economy." In reality, workers at companies like Uber and Airbnb have little choice but to hire themselves out for ever-smaller jobs and wages, with no safety net, while the companies profit.
We are on the cusp of a revolution in the way work and labor are done. The changes are generating chronic insecurity and worsening inequality. Put bluntly, in the past three decades, a global market system has been emerging, aided by economic liberalization policies, a technological revolution based on electronics that has facilitated changes in organizations and a dismantling of the firm and a shift of bargaining power from workers to capital.