Key Terms
Telecommuting
The technology enables flexibility; the ethics require equity.
Job sharing
Flexibility for workers is only ethical when it is not a cover for cutting benefits.
Flextime
Work schedule where employees choose their own start and finish time; not a compressed week, just a shifted window.
Access economy
Business model where consumers participate on both sides of a transaction (as both providers and obtainers); often facil
Gig economy
Independence is only a feature when it is chosen, not imposed.
Precariat
New social class of workers (short for "precarious proletariat") whose work offers little predictability or security; cl
Robotics
Field combining computer science, mechanical engineering, electronics, and science; produces machines or automation that
Artificial Intelligence (AI)
Branch of science using computer algorithms to replicate human intelligent behavior with minimal human intervention.
Monopsony
Labor market condition with only one buyer (employer); suppresses wages because workers have no competing offers.
How it works
Two employees share one full-time role; same tasks, same responsibilities, split hours. Not the same as shift work (each
Ethical concern
Is job sharing a flexible arrangement that serves employees, or a cost-cutting tool that denies workers benefits they wo
Ethical requirement
Flextime policy must be based on objective, job- related criteria. Without that, employees can claim discrimination if a
Core model
Consumers act as both providers and obtainers of resources (P2P). Platform facilitates the transaction.
Key distinction
Traditional economy = buy and sell. Access economy = use without owning.
Capital access problem
IPOs are costly and complex; typically impractical for raising under $10 million. The JOBS Act (2012) created a crowdfun