Adam Smith and the Gig Economy: What He Would Have Done About the Precariousness of Freelance Workers
Explore fresh ideas on how Adam Smith would address current challenges in the gig economy and the instability of freelancers
Smith's View on Market Failures
Smith would see that the invisible hand does not operate well in this environment. He would argue that it is urgent to restore balance with new structures that strengthen workers.
Key Problems:- Precariousness in gig jobs
- Lack of bargaining power ⚙️
The invisible hand fails when one party dominates the exchange.
Proposal for Digital Guilds
Smith would promote decentralized cooperatives that unite drivers, designers, and delivery workers. These would use group AI to debate and negotiate with platforms.
Main Benefits:- Better rates and advantages
- Fair working conditions
Conclusion
This idea generates counterpower and balances the market with digital guilds and collective AI