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How Far Can the P2P Revolution Go?

October 28, 2014

This article, written by Foundation for Economic Education distinguished fellow and Heartland Institute policy advisor Jeffery Tucker, discusses the “peer-to-peer revolution”—also called the “sharing economy”—and examines how the execution of free-market

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This article, written by Foundation for Economic Education distinguished fellow and Heartland Institute policy advisor Jeffery Tucker, discusses the “peer-to-peer revolution”—also called the “sharing economy”—and examines how the execution of free-market principles have made people’s lives easier and more convenient. By removing intermediate rent-seeking agents, Tucker writes that companies like TaskRabbit and Uber allow people to experience “luxury at a reasonable price.”

Tucker continues, saying that other technological advances, such as the emergence of the “app economy” and the Bitcoin alternative currency, cannot be undone. These advances, he says, create “equipotency”—technology equally grants people the power to buy and sell, distributing this economic power widely throughout the population.

Tucker concludes, saying “these technologies are emerging from within the private sector, not from government. They work better to serve human needs than the public-sector alternative. Their use and their growth depend not on ideological conversion but on their capacity to serve universal human needs.”

Author
Jeffrey Tucker is Chief Liberty Officer and founder of Liberty.me, the global liberty community with advanced social and publishing features.
media@heartland.org @jeffreyatucker