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RE: Will gig economy ever replace traditional economy?

You have obviously given the topic some thought. I guess there are people who like the idea of doing gigs, while some might find the idea of not having a steady income frightening - especially if you have a family who depends on your check at the end of the month.
However, as you suggested, gigs are a good way as a supplement to an income.

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Yup, gigs are a good supplement to existing income. I think in Singapore, it is quite difficult to grow wealth just by doing gigs.

Yes! I agree - unless it is a very specialized trade. But I believe that people who chose gigs over full-time jobs are also those who prefer freedom, and doing what they love to being tied down for the sake of money.