It’s Not the Gig Economy – It’s the Apps Economy

News that so-called Gig Economy standard-bearer We Work has pulled in another $3 billion in funding from Softbank Corp. may be creating the wrong impression about the economy. The so-called Gig Economy is defined as a labor market characterized by the prevalence of short-term contracts or freelance work as opposed to permanent jobs. Ride-sharing, apartment-renting and other hyphenates--many of whose “consultants” and fledgling entrepreneurs are using office-sharing services rather than traditional offices--are garnering the attention and affection of economists, business analysts and media mavens everywhere. But large, traditional companies are still the bedrock of the global economy, according to a new book gaining attention in the U.S.