A Critique of the Socialist Theory of Sharing Economy from an Ethical Viewpoint according to the ideas of Friedrich Hayek and Ayn Rand

The socialist view of sharing economy never expires, just like other economic and political theories that are based on philosophical grounds. That is, they can be adopted as grounds for the management of the society under all circumstances. For instance, given the current situation of the world after the Covid-19 pandemic, which led to grave economic problems, undermined many businesses, and increased unemployment rates, some theorists recommend a return to versions of socialism. In this paper, we aim to examine and assess the validity of the theory of sharing economy from an ethical point of view. Friedrich Hayek and Ayn Rand have offered analyses of socialism and sharing economy, discussing the ethical repercussions of the theory. In their ethical critique of sharing economy they point to components such as violations of individual rights and freedom in socialism as well as the destruction of people’s individual identities. In this research, we gather data in the manner of the library method, trying to analyze and assess the data. Our findings suggest that Rand criticizes the ethical principles of socialism and the theory of sharing economy from a deeper, more philosophical perspective, while Hayek is more focused on its moral and social consequences.