The Economy of Collaboration: The New Digital Platforms of Production and Consumption

The expansion of the digital economy and the internet of things has created a dilemma for capitalism about reconciling economic and social value. The Economy of Collaboration can offer a solution by creating shared value through cooperative relations in the digital economy. This book discusses how collaborative activities can be regulated along a continuum from market exchanges to generalized reciprocity.

Format: Paperback / softback
Length: 216 pages
Publication date: 30 May 2022
Publisher: Taylor & Francis Ltd

Over the past few decades, the world economy has undergone a profound transformation, driven by the expansion of the 'digital economy' and the increasing interconnectedness of objects and physical processes through the internet. This 'great transformation' presents a dilemma regarding the ability of capitalism to reconcile economic and social value, ensuring the well-being of individuals, social cohesion, and political freedom.

The Economy of Collaboration can play a significant role in addressing this challenge. However, it necessitates bold policies to balance the diverse interests involved and to rethink and enhance the sustainability of its development, by increasing the benefits for businesses, workers, and consumers alike. In essence, the goal is to create shared value.

This book explores a model of organizing the production, distribution, and consumption of goods and services based on cooperative relations. While the primary focus is on activities related to the digital economy, which are emerging forms of a more established phenomenon, they are expanding on a vast scale thanks to new technologies. These collaborative activities can be regulated in different ways, ranging from market exchanges to generalized reciprocity, with various intermediate mixed forms.

The digital economy has brought about significant changes in the way we work, communicate, and consume goods and services. It has facilitated the creation of new business models, enabled global trade, and opened up opportunities for innovation and entrepreneurship. However, it has also raised concerns about job displacement, income inequality, and the concentration of power in the hands of a few large corporations.

The Economy of Collaboration seeks to address these challenges by promoting a more decentralized and inclusive economic system. It emphasizes the importance of collaboration, cooperation, and mutual benefit among stakeholders, including businesses, workers, and consumers. By fostering a culture of shared value, where everyone involved in the production and distribution of goods and services benefits, we can create a more sustainable and equitable economy.

One of the key principles of the Economy of Collaboration is the recognition of the value of human capital. Workers are not just resources to be exploited but rather partners in the production process. This means that businesses should prioritize employee well-being, training, and development, and provide fair wages and working conditions. It also means that workers should have the opportunity to participate in decision-making processes and have a voice in the governance of their workplaces.

Another important aspect of the Economy of Collaboration is the promotion of sustainable practices. The digital economy has a significant environmental impact, and businesses must take responsibility for their carbon footprint and other environmental concerns. By adopting sustainable practices, such as renewable energy, waste reduction, and circular economy, businesses can reduce their environmental impact and contribute to the overall sustainability of the economy.

The Economy of Collaboration also emphasizes the importance of diversity and inclusion. In a globalized economy, where businesses operate in multiple countries and cultures, it is essential to promote diversity and inclusion in the workplace. This means creating an environment where all individuals, regardless of their race, gender, sexual orientation, or disability, feel valued and respected. It also means providing equal opportunities for employment and advancement, and addressing discrimination and inequality in the workplace.

To achieve the goals of the Economy of Collaboration, governments, businesses, and individuals must work together. Governments can play a role in promoting policies that support the growth of the digital economy, such as investment in infrastructure, research and development, and education. Businesses can prioritize sustainability and social responsibility in their operations, and individuals can consume goods and services that are produced in a socially and environmentally responsible way.

In conclusion, the world economy has undergone a profound transformation, driven by the expansion of the digital economy and the increasing interconnectedness of objects and physical processes. The Economy of Collaboration can offer a contribution in this direction. However, it requires bold policies to mediate the various interests at stake, as well as to rethink and make more sustainable its development, by increasing the benefits not only for businesses but also for workers and consumers. By creating shared value, we can create a more sustainable and equitable economy that benefits everyone involved.

Dimension: 234 x 156 (mm)
ISBN-13: 9780367636333