Time to Adapt to a New Economy
By Arun Sundararajan
We need to create a regulatory framework for these new providers, balancing their lower risks with appropriately designed safeguards.
We are free to lend our apartments to acquaintances, pick up relatives from the airport, or loan money to friends starting new businesses. These are considered "personal" undertakings, unlike running a hotel, driving a taxicab, or being a professional investor, and have none of the additional oversight, licensing, screening, taxation or training expected of providers who conduct these activities as a full-time occupation.
Read the full article as published in The New York Times.
Arun Sundararajan is a Professor of Information, Operations and Management Sciences, NEC Faculty Fellow, and Doctor Coordinator of IOMS-Information Systems.