# Professor Arun Sundararajan's book, "The Sharing Economy," is featured

1 Faculty News February 19, 2017 ![Financial Times logo](/sites/default/files/styles/246w/public/assets/images/uat_025699.jpg?itok=5SpaxEbn)>

Excerpt from the [Financial Times](https://www.ft.com/content/4523e9a4-f472-11e6-95ee-f14e55513608) -- "Conscious capitalism still sees the firm as the basic economic unit. New York University business professor [Arun Sundararajan](http://www.stern.nyu.edu/faculty/bio/arun-sundararajan), by contrast, focuses on the crowd. Crowd-based capitalism, which he outlines in The Sharing Economy, is the 21st-century version of village life, in which people engage in commercial transactions with peers, bolstered by trust generated by intertwined social networks. Digital platforms expand the village to encompass cities; blockchain technologies create trust at scale; individuals support themselves as small-scale entrepreneurs, like craftspeople and merchants of old."

[Read more](https://www.ft.com/content/4523e9a4-f472-11e6-95ee-f14e55513608)