‘Co-Regulating Uber- why, and how, should we regulate?’
INTRODUCTION
In the beginning of 2015, Uber was considered the world’s biggest start-up.[1] Thus, its name is fitting: Uber is derived from the German word “über”, the word literally means “above”. [2] It is a multinational online transportation platform that allows consumers to purchase a car ride from other drivers who use their own cars, as opposed to the traditional model where only registered taxis are permitted to provide this service. It is an example of “sharing economy”, and it is an economic novelty that is considered revolutionary. The sharing economy is “a trend where people can monetize their personal belongings by renting (sharing) them out to complete strangers.”[3] This phenomenon is large and important because it has an impact on many, if not all of us. This explains why economists, students, journalists and neighbours, engage in discussions about the sharing economy with emotional concerns. Some celebrate the sharing economy as the solution to climate change as it is better for the environment.[4] It is also viewed as the source of a new community spirit, as it is an “eclipse of capitalism”.[5] To others, it is a threat to the ordinary and vulnerable people. [6] It is viewed as a dangerous game, which will ultimately only pay off for a few big players.[7]
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