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  3. Tomorrow 3.0
  • Cited by 60
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    • Publisher:
      Cambridge University Press
      Publication date:
      07 March 2018
      22 March 2018
      ISBN:
      9781108602341
      9781108427081
      9781108447348
      DOI:
      https://doi.org/10.1017/9781108602341
      Dimensions:
      (228 x 152 mm)
      Weight & Pages:
      0.4kg, 188 Pages
      Dimensions:
      (228 x 152 mm)
      Weight & Pages:
      0.28kg, 188 Pages
      • Subjects:
      Economics: General Interest, Politics: General Interest, Entrepreneurship and Innovation, Management
      Series:
      Cambridge Studies in Economics, Choice, and Society
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    Subjects:
    Economics: General Interest, Politics: General Interest, Entrepreneurship and Innovation, Management
    Series:
    Cambridge Studies in Economics, Choice, and Society
    Information

    Book description

    With the growing popularity of apps such as Uber and Airbnb, there has been a keen interest in the rise of the sharing economy. Michael C. Munger brings these new trends in the economy down to earth by focusing on their relation to the fundamental economic concept of transaction costs. In doing so Munger brings a fresh perspective on the 'sharing economy' in clear and engaging writing that is accessible to both general and specialist readers. He shows how, for the first time, entrepreneurs can sell reductions in transaction costs, rather than reductions in the costs of the products themselves. He predicts that smartphones will be used to commodify excess capacity, and reaches the controversial conclusion that a basic income will be required as a consequence of this new 'transaction costs revolution'.

    Reviews

    'It is too early to see all the positive and negative consequences this third revolution will have, but change is inevitable. Modernity is a never-ending process; people are always looking for ways to make things better. The transaction cost revolution is the next step, and it is already changing lives. With Munger’s help and a little Econ 101 knowledge, that change will be much easier to navigate.'

    Ryan Young Source: OpenMarket (www.cei.org/blog)

    '[I]n addition to its snappy readability and appeal for both professional and lay audiences, Tomorrow 3.0 is spot-on in the way that it treats expanding consumer access as the flip side of 'software eating the world'.'

    Pamela J. Hobart Source: Libertarianism.org (www.libertarianism.org)

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