Sunday, 7 October 2012

The power of the informal economy

The motor of supply and demand is a powerful and insuperable one. If a demand exists for a certain product or service, sooner or later someone will be there to provide supply - even when when doing so is illegal, eg. the Mafia alcohol trade during the Prohibition.This creates a huge market for goods and services worldwide - the so-called informal economy, which employs 1.8 billion (!) people worldwide. The following presentation held by American journalist, who investigated such enterprises for four years, provides an intriguing glimpse into the world of this shadow economy.

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