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Video 1: Amane Dannouni – How online marketplaces can help local economies, not hurt them
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Video 2: Marilyn Waring – The unpaid work that GDP ignores — and why it really counts
Podcast: How Reagan Broke the Unions
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Anishka Gupta
Week 2
COLLAPSE
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The internet is changing the way we work, socialize, create and share information, do shopping, organize the flow of people, ideas, and things around the globe. Every innovation has some good and some bad impact on the country’s economy that might affect or increase the revenue of small or big businesses. According to the general online shopping statistics, online shopping is growing so fast that the global online shopping market size is predicted to hit 4 trillion in 2020. In the USA alone, it is expected to have 300 million online shoppers by 2023 which are 91% of the country’s population. 69% of Americans shopped online whereas 25% of Americans shop online at least once per month. All these purchases are not being made in a store which means these have a significant impact on the local economy. Online purchases directly impact the local economy as it reduces the amount of sales tax the state was supposed to collect and other local taxes that towns and counties collect. Many online retailers do not charge the appropriate sales tax for items that they sell online; this is beneficial for the big industry but not for the locals. For instance, if a client buys a Christmas present from Amazon rather than from a neighborhood business, that cash goes to the national retailer rather than the buyer’s locals.
https://www.forbes.com/sites/elizabethharris/2016/12/13/as-shoppers-spend-more-online-local-economies-take-the-hit/#639fe7392ce8
Online Shopping Statistics: How Many People Shop Online in 2024?
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Binxin Li
week2
COLLAPSE
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For those three videos, the most interesting thing for me is the rapid growth online marketplace all over the world. As the TED speaker said, the online marketplace has two sides: the bright side and the dark side. It is true, now some small local stories may even face a worse situation than some economic recession period. For my own story, when I was in China last winter, I almost never go out of my house. If I lack some daily items, I could just order those things online and pick them up in front of my house very soon. The APP named”MeiTuan”. Sometimes it surely hurt part of the local economy. However, with the expansion of the service, more and more local stories also are included in their services list. I think this is just the speaker talked about, all the participators within the purchasing action would benefit: for me, I could easily get the item I need; for MeiTuan, they could get the services fee; for local stories, they may get more potential opportunity to gain profit; and finally, more people may get a job as a deliveryman.
In addition, I think the online marketplace is one new kind of shopping style, and more and more people become to accept it. From my research, the growth of online shopping is much faster than in-store shopping:
US ecommerce sales reached $1.119 trillion in 2023
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