Corpus ID: 18059179

The Third Entrepreneurial Revolution : A Middleman Economy

  title={The Third Entrepreneurial Revolution : A Middleman Economy},
  author={Michael C. Munger},
The sharing economy will blur the distinctions between renting and owning a wide variety of durable products. The first great entrepreneurial (Neolithic) revolution transformed hunter-gatherers into fixed agriculturalists. The second (Industrial) revolution dramatically reduced the costs of owning products. The third (Transactions Costs) revolution will reduce the costs of exchange, fostering a sharing economy. Some implications of this revolution, and the likely winners and losers, are spelled… Expand
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