Silicon Valley Disruption: Unveiling Promises and Realities in Uber and Airbnb Era - Free Report

When we discuss 'the economy,' what kinds of activities are usually included and excluded?

The economy includes many things in our contemporary life at various geographical scales; the local, national, and international scale. The economy incorporates a wide range of activities in terms of the GDP. The activities used in calculating the GDP are transactional while those that do not have a transaction aspect are excluded.

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Give at least two examples.

Some of the activities with no transactional aspect are associated with working at home such as cleaning the house and catering. On the other hand, activities such as businesses and employment are included in the economy's GDP.

What economic factors contribute to the inequality and gentrification described in the Class Divide documentary?

Social, and spatial inequalities, low income(poverty), and lack of government policies to protect low-income earners play a significant role in promoting gentrification and inequality. Moreover, during the global financial crisis, the boom and bust periods lead to substantial shifts in poverty in the urban areas. Gentrification leads to an affordability crisis due to the vast economic differences between people to address.

Which factor is most important for public policy to address, in your opinion?

The government should address the spatial, social inequalities that aim to protect long-term residents from gentrification's adverse effects, such as displacement due to increased property prices. The introduction of fair housing regulations and building affordable housing units is also vital

Using a specific example, describe how capitalist production was imprinted on the landscape of a place.

The capitalist production system is based on the incentive to make profits from every transaction. An example of a postindustrial capitalist production place is Liverpool. Liverpool has grown tremendously due to the capitalist production imprinted during the early nineteenth century. The city began as a center of the transshipment of cargo for all corners of the world. The docks in Liverpool handled 40% of the world's trade leading to growth. Liverpool's prosperity reflected the relevance of a specific era of capitalist growth. Liverpool continued to grow due to the increase of cargo ships from all parts of the world and steamship technology innovation. The dynamic aspect of the capitalist production system enabled Liverpool to increase its markets as a shipping destination and increase profits. However, Liverpool's environment as a service capitalist destination led to economic decline due to outdated technological innovations.

The Disrupters explores the gap between the promises and the realities of Silicon Valley behemoths like Uber and Airbnb. Is this kind of 'disruption' the future of capitalism? Should it be? Do the benefits outweigh the costs?

Silicon Valley promises to create a better world in a process they refer to as disruption. Despite the disruption having benefits, the costs are high, thus outweighing the benefits. The disruption may lead to economic shock because of the automation of millions of jobs. For instance, Uber drivers have lower earnings than the billions of dollars that the company makes in profits.