share economyn.
/ˈʃɛːr ᵻˌkɒnəmi/, U.S. /ˈʃɛr əˌkɑnəmi/, /ˈʃɛr iˌkɑnəmi/ 1. A system of economic organization in which employees receive a share of their company's profits as a regular element of their pay. Contrasted with wage economy n.Coined by, and chiefly used with reference to, the American economist, Martin Weitzman (1942–2019).
ΚΠ
1983 M. L. Weitzman in Econ. Jrnl. 93 779 There is..a tendency for a share economy to pay out a higher total real income to labour than a wage economy after a recessionary shock.
1991 Oxf. Econ. Papers 43 75 This paper suggests that caution, at least, is appropriate, for the ability of the share economy to minimize employment fluctuations.
2011 Jrnl. Econ. 102 58 If Weitzman's viewpoints are accepted, could we expect to observe a higher rate of economic growth in a share economy?
2. An economic model in which goods and services are offered, exchanged, or shared between individuals, either free or for a fee, typically by means of online platforms designed for the purpose. More usually known as sharing economy (see sharing n.2 Compounds 1c).
ΚΠ
2012 Observer 11 Mar. (Mag. section) 53/2 She [sc. Debbie Wosskow] runs lovehomeswap.com, which helps people exchange holiday homes, and this month is launching Collaborative Consumption Europe, a network of businesses promoting the ‘share economy’—a marketplace based on swapping products and services.
2017 Austral. Financial Rev. (Nexis) 15 Aug. 16 [He] said workers in the gig economy did not need to be unionised in Australia, arguing that it was up to share economy companies to create a good environment for their workers.
2020 @robertosmind 19 Nov. in twitter.com (accessed 16 Nov. 2021) It's wild to me that the share economy is pushing for travel right now.
This entry has been updated (OED Third Edition, June 2022).
<
n.1983