Can the share economy cure our macroeconomic woes? Probably not |
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Authors: | William Nordhaus |
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Affiliation: | Department of Economics, Yale University, New Haven, Connecticut 06520, USA |
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Abstract: | This paper introduces the major ideas in Martin Weitzman's The Share Economy. It notes that a “share” economy is one in which the marginal cost of labor is less than the average cost of labor; moreover, this condition can be induced by sharing revenues or profits. According to share theory, such contracts will lead firms to create more vacancies and thereby lower the average unemployment rate. Weitzman proposes to induce more share arrangements by giving a tax preference to share-type income. |
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