1. Gig Economy: An overview
'Gig' – a word, coined several decades
earlier, seems to have gained prominence in today's time. In
the present context, a 'gig economy' involves a
temporary contractual job or short-term contract or freelance work
that a person may take, on a project-to-project basis, for which
the payment is made once the task is completed. The gig economy
gets its name from each piece of work being akin to an individual
'gig'.1 The Merriam Webster Dictionary
defines a 'gig economy' as an "economic
activity that involves the use of temporary or freelance workers to
perform jobs typically in the service sector." A gig
economy encompasses all platforms that hire independent
contractors, consultants and workers in different sectors, such as
information technology, content creation, social media marketing
and communications, food and beverages, creative fields such as art
and design. A gig economy, hence, means an existence of temporary
or part-time
