Airbnb. Sidecar. TaskRabbit. These companies are all part of the emerging "sharing economy," a new frictionless ecosystem that allows users to monetize their own goods through mobile and web applications. Recently, several city governments have stepped in to regulate this new industry, often at the behest of entrenched companies that suddenly have found their business models threatened. Arun Sundararajan, an economist and professor at NYU's Stern School of Business, sits down with US News' Simon Owens to discuss whether the "sharing economy" can regulate itself or if the government should step in on behalf of consumers.