….Pinning down the informal economy is as tough as catching a fake Louis Vuitton vendor running from the police. But itâ??s huge in the United States â?? larger than the official output of all but the upper crust of nations across the globe. And, due to the recent recession, itâ??s growing.
Whether thatâ??s good or not depends entirely on oneâ??s point of view. The rise of the informal economy is either the flourishing of entrepreneurship among Americaâ??s poorest or a drag on legitimate businesses that play by the rules.
Quoted: Alfonso Morales, UW-Madison professor of urban and regional planning