What is a gig economy?
Let’s Begin…
A 2016 survey of freelancers in six countries found that those who freelance by choice– 70% of respondents– were happier than people in traditional jobs, specifically when it came to things like independence and flexibility in terms of where and when they work. So what does it take to be a successful freelancer? Explore the benefits and drawbacks of the gig economy.
Additional Resources for you to Explore
Government and private industry can make policies that can make for a less exploitative gig economy. Gig workers were and continue to be the hardest hit by the global pandemic. To find out more about their situation and the failures of both private industry and the public sector to support them, check out this article.
For a deep dive into the ecosystem of platform work, check out this paper. In it, the authors unpack the differences between digital and sharing platforms and give some positive examples of platform companies taking the social protection of employees seriously.
Anthony Hussenot describes the difference between “proficians” – creative class workers in high demand – and “precarians” – workers with less job security doing more repetitive tasks. Read more here.
The Future of Jobs
The future of work may very well be headed more and more towards freelancing. You can check out a more comprehensive look at the future of jobs in The World Economic Forum’s The Future of Jobs Report.
For reports and information about platform workers in particular, check out The Fairwork Project. They are based at the Oxford Internet Institute and the WZB Berlin Social Science Center. Through their global network of researchers, they evaluate the working conditions of digital platforms and rank them based on our five principles of fair work
Watch the video and finish the Think section to complete the lesson.
About Economics Explained
Economics has had a huge impact on the world we live in—and understanding the key factors at play in these massive, interconnected systems can give us insight into how to make them better, stabler, and more equitable. Dig into these quick and compelling explainers from TED-Ed and World Economic Forum for a taste of economics in action.
Meet The Creators
- Video created by TED-Ed
- Lesson Plan created by TED Ed