THE GIG ECONOMY- A REVIEW FOR THE FUTURE

Most of you must be wondering what Gig actually means so before going further into the details I’ll just put some light on the term itself actually the term Gig is widely used in music industry which refers to any single musical performance but in economics it informally means a job. So what is Gig economy? and why? am I even bothering to write a review about it or why? you should bother to even read it, how? It is different from normal economy and what? significance does it hold for our society. Well I will try to give you some answers regarding all these questions before going into details let me draw a line between the normal or Orthodox economy and Gig economy in order to do that let me ask a question which is in the final year of your college what were your future plans? Most of us would say we were thinking or rather sure to get a handful job which suites our profile, a normal 9-5 job 5 days a week for next 40 years and a happy retirement afterwards. As per The Gig economy and it’s trends this orthodox method making a livelihood out of one singular job will no longer be in the system in coming years there will not be nay requirement for the companies to hire people for a long term, most of us will be working as a freelancer for different kinds of jobs. More details are in coming articles.