Each year the ANDC selects a Word of the Year. The words chosen for the shortlist are not necessarily new, or exclusively Australian, but are selected on the basis of having come to some prominence in the Australian social and cultural landscape during the year. This year we have selected the term sharing economy as our Word of the Year 2015.
sharing economy ‘an economic system based on sharing of access to goods, resources, and services, typically by means of the Internet’. This term grew in significance and frequency of use in Australia in 2015. This was partly due to the impact of debates around the introduction of ridesharing service Uber into Australia, which has been seen as a threat to the taxi industry. The sharing economy is facilitated by online technology, and while it is most often associated with ridesharing and accommodation sharing apps, it can also include collaborative efforts such as crowdfunding. The term has ‘feel-good’ connotations in emphasising sharing, and some regard it as a positive good for society. However, others have pointed to its corporate dimensions, and its potential to displace industries and businesses. Continue reading