[The Economist] How technology is redrawing the boundaries of the firm

Summary

1. With the new working environment - Zoom or Microsoft Teams, the size of skilled freelance workers in US is surged. ("$247bn in 2021, up from about $135bn in 2018.")

2. "Sectors particularly compatible with remote work: technology, finance and professional services."

3. One of the reason why Increase the number of overseas workers (working remotely) is "barriers to immigration."

4. Of course this is possible because of the technological advance.

5. Increase in gig work (not only delivery / working at QSR)

6. It is expected to improve the global economy (make smaller difference between rich countries and poor countries)

 

Vocab with definitions (from Dictionary.com)

do away with	- to kill or destroy - to discard or abolish
	...email has done away with most letters.
trickle out	- to flow or fall by drops, or in a small, gentle stream:Tears trickled down her cheeks. - to come, go, or pass bit by bit, slowly, or irregularly:
	Jobs are trickling out from corporate headquarters in metropolises to smaller cities and towns.
wieldy	readily wielded or managed, as in use or action. * wield: to exercise (power, authority, influence, etc.), as in ruling or dominating.
	Grow too big and a business is too unwieldy to manage—think of Soviet-style command-and-control economies.
usher	- to act as an usher to; lead, introduce, or conduct - to attend or bring at the coming or beginning; precede or herald (usually followed by in)
	Today Coasean forces are ushering in a new type of corporate organisation.
gig	any job, especially one of short or uncertain duration:
	Gig work is no longer the preserve of ride-hailing or food delivery.
pin down	to define clearly
	Pinning down just how much firms depend on outsiders is tricky...

Reference

The Economist, How technology is redrawing the boundaries of the firm