Informal Economy: Difference between revisions
Jump to navigation
Jump to search
(Added some more information) |
(Added some more links under the "External Links" section) |
||
| Line 11: | Line 11: | ||
=External Links= | =External Links= | ||
* | *[https://www.youtube.com/watch?v=ONM4JupBz_E A 2012 Tedx Talk by Robert Neuwirth Titled "The power of the informal economy" ] | ||
Revision as of 03:34, 21 January 2021
Basics
- Also know (with more negative cases usually) as the "Black Market", or as the "Invisible" or "Shadow" Economy
- Essentially all Economic Activity that is not documented by the Government or NGOs
- Thus has no Worker's Protections , Taxes, Or ability to sue for fraud etc
- However they are often much more "in sync" with their local communities' needs
- They often "fill in" gaps of supply and demand, great examples being re-selling fuel at a higher price, but constant rate during shortages
- This may be an issue with Community Markets etc, as if they become economically siginificant enough, documentation and taxation should occur, and how to apply this in such a chaotic decentralized system will need to be determined