The Gig Economy: Opportunity or Exploitation?
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Abstract
The gig economy features as one of the most concerning features in the world economy as it raises suspicion towards worker's wellbeing, incomes, and social safeguards in the ever-growing harsh economic conditions of 2024 to be. The growth of Sylvan, Uber, Fiverr, Upwork, Deliveroo, Task, and Rabbit platforms starting in 2024, has managed to pull in millions of users, workers, freelancers, and students from all over the world, which came with socio-economic innovation and growth. But, with it, the economy had to endure the harsh reality of income volatility, algorithmic control, and lack of benefits for the workers. This paper scrutinizes the international gig economy and its risks, benefits, and the policies that need to be formulated to ensure fairness whilst creating opportunity.