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The Gig Economy, Smart Contracts, And Disruption Of Traditional Work Arrangements, Seth C. Oranburg, Liya Palagashvili

Law Faculty Scholarship

The rapid growth of technology is not only creating innovative goods and services, but it is also fundamentally altering the workplace and the traditional understanding of employee and employer relationships. This can be seen today with the rise of the gig economy and alternative work arrangements. Our paper seeks to explain how technology has reduced the cost of transacting with the market and lowering monitoring costs, and thereby driving the expansion of contracting, as seen in the rise of the gig economy. We then anticipate blockchain technology and smart contracts will further reduce transaction costs and continue to alter the …