Informal Economy: Difference between revisions
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(Added some more links under the "External Links" section) |
(Added some more links under the "External Links" section) |
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=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" ] | *[https://www.youtube.com/watch?v=ONM4JupBz_E A 2012 Tedx Talk by Robert Neuwirth Titled "The power of the informal economy" ] | ||
*[https://en.wikipedia.org/wiki/Commodity_money The Wikipedia Page on Commodity_Money] (This can occur in Informal Economies (Such as Instant-Ramen In USA Prisons, or Tobacco/Petrolium Products in Post-WW2 Europe) ) | |||
**[https://youtu.be/PLt9fRYT92M A Video on the Usage of Ramen as an Informal Currency in USA Prisons by the Youtube Channel "Vox" Titled "Why ramen is so valuable in prison" ] | |||
Revision as of 03:42, 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
Internal Links
External Links
- A 2012 Tedx Talk by Robert Neuwirth Titled "The power of the informal economy"
- The Wikipedia Page on Commodity_Money (This can occur in Informal Economies (Such as Instant-Ramen In USA Prisons, or Tobacco/Petrolium Products in Post-WW2 Europe) )