The sharing economy operates on peer-to-peer exchanges. This allows people to have an enjoyable lifestyle without owning the stuff they would like to use. With the unemployment rate at its lowest in 50 years and nominal wage at its highest in a decade, the American economy is thriving. However, the cost of living is outpacing wage, preventing Americans from living a great lifestyle. This has led to the rise in peer-to-peer lending and borrowing, facilitated by apps and technology, known as the sharing economy.