Does The Sharing Economy Contribute To Happiness?

The U.S. Economy is booming. Unemployment rates sit at a half-century all time low and nominal wage growth has reached its decade peak - all while the economy continues to grow. However, the cost of living has simultaneously outpaced wage growth as it has increased 14% within the last three years. As wages remain unchanged, the general consensus for American happiness continues to fall. Buying and owning things are now urban legends as sharing goods and services proves more convenient. 

Millions of people use sharing services such as Runaway, Lyft, Airbnb, swimming, and scooter companies for ease-of-access. In fact, 86.5 million Americans will use the sharing economy by 2021. Sharing eliminates the burden of ownership while providing on-demand access to the things that make you happy. It’s said that the human mind wanders 47% of the time- often to a dark place - but anticipation and good memories give the mind a happier alternative. 

Saying this, most people prefer to swap experiences as talking about personal belongings can lead you to feel like you don’t measure up. Whether you’re seeking to earn extra income from your dormant belongings or to temporarily use for convenience - the sharing economy has something in store for you.