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The sharing economy

Read about the sharing economy to practise and improve your reading skills.

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Reading text

If we look around us at the things we have purchased at some point in our lives, we would no doubt notice that not everything we own is being put to good use: the thick woollen coat which we thought looked trendy despite the fact that we live in a tropical country, the smartphone that got put away when we bought ourselves the newest model, the car that only gets used at the weekends, or even the guest room in our house that somehow got turned into a storeroom.

Those underutilised items may seem useless to some, but could be an asset to others. With the advent of the internet, online communities have figured out a way to generate profit from the sharing of those underused assets. Using websites and social media groups that facilitate the buying and selling of second-hand goods, it is now easier than ever for peer-to-peer sharing activities to take place. And this is known as the sharing economy.

These democratised online platforms are providing a chance for people to make a quick buck or two. To give an example, busy parents previously might not have bothered with setting up a stall at the local market or car boot sale to sell their children's old equipment, but with online marketplaces, parents are now able to sell on those hardly worn baby clothes that their children have outgrown and the expensive pushchairs and baby equipment they have invested in, so as to put some cash back into their pockets.

Businesses have also caught on to the profitability of the sharing economy and are seeking to gain from making use of those underutilised resources. A business model that has rapidly risen in popularity sees companies providing an online platform that puts customers in contact with those who can provide a particular product or service. Companies like Airbnb act as a middleman for people to cash in on their unused rooms and houses and let them out as lucrative accommodation. Another example is Uber, which encourages people to use their own personal cars as taxis to make some extra cash in their free time.

This move towards a sharing economy is not without criticisms. Unlike businesses, unregulated individuals do not have to follow certain regulations and this can lead to poorer and inconsistent quality of goods and services and a higher risk of fraud. Nevertheless, in the consumerist society we live in today, the increased opportunities to sell on our unwanted and underused goods can lead to a lesser impact on our environment.



Language level

Upper intermediate: B2


Well, I've never used an online platform for this. I simply give extra stuff which I have to my housemaid or some other needy people if they need it. Though it is correct that this concept will help to reduce environmental waste generated, but at the same time using online platform for this is time consuming as well.
Maybe what you want to sell may not be what the other person needs or they may not be satisfied with the product. By the time you find a buyer, the condition of that product may have become even worse.
So it's better that we give underused items to those who are more close to us so that they can use it before the condition of the item detoriates further.

Yes, I do. When I don't want to use something that I bought once thinking it could be useful for me but after a short time I realized it was unnecessary I usually go online to one of these sites can help me to sell it and try to make back some money.

Yes. I does.

Unfortunately I haven't been able to participate in a sharing economy model, since I usually keep several stuff in my room. However, when I've got the enough time to tidy my bedroom, I get rid of those items which I use no more through white sacks; so that the people who might need them are able to get them.

I really want know one of those sites ,it would be great to one of those on my country

" the consumerist society we live in today" = Yes, I agree and feel meaningless or empty. I don't want to be a slave of the society!

in my opinion, sharing economy is the best thing ever! We consume too much.

I've never participated in the sharing economy, until I had to live away from home. It seemed unnecessary buying new things and brand new furniture when I'm only staying there for few months and that's when I took the opportunity to use the sharing economy method and contact people in websites like craigslist. I was informed that there may be some concerns buying beds and such since it might be defective or I may get fooled by some of the sellers. But still, it is a good way to save a lot of money and very beneficial to the environment. Recycle, Recycle, Recycle.

In my opinion the sharing economy is a great idea. I have sold my old shoes on the market place. And when I was having two type of bicycle such as MTB and touring bicycle. Eventualy, I sold the MTB because I often used the touring bicycle. However, we should't sell all of unused equipment or old stuff and get some cash. Sometimes, I gave my old stuff and unused equipment for charity event. And I feel its make me happier than earning money.

As far as the concept of sharing economy goes, I'm afraid I would be participating in this trend as a consumer rather than as a seller granted I've always been picky with what I want to own and what I would do with it whenever it doesn't work any longer, which usually ends up being recycled or on the rubbish. Nevertheless, I openly embrace the idea of making profits through the several assets that people from second-hand day-to-day goods and services.