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World Underneath: The Origins, Dynamics, and Effects of the Informal Economy

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World Underneath: The Origins, Dynamics, and Effects of the Informal Economy
Author(s)Castells, Manuel; Portes, Alejandro
AbstractHistory is full of surprises. The informal economy, long considered incompatible with advanced, institutionally rich capitalist economies, is making a comeback in developed and less developed regions. In fact, informalization appears to be characteristic of recent economic trends: horizontal networks rather than vertical bureaucracies; subcontracting rather than union contracts; and the expansion of entrepreneurship, cash economies, barter transactions, and casual labor markets. This article explores the nature of the informal economy, its causes and effects, and its integral relationship to the formal economy.
Pages11-37
IssueNo
ArticleAccess to Article Summary Article
SourceInformal Economy: Studies in Advanced and Less Developed Countries, The
VolumeNo
PubDate1989
ISBN_ISSN0801837367

Frontier Issues in Economic Thought

  • Volume 1: A Survey of Ecological Economics
  • Volume 2: The Consumer Society
  • Volume 3: Human Well-Being and Economic Goals
  • Volume 4: The Changing Nature of Work
  • Volume 5: The Political Economy of Inequality
  • Volume 6: A Survey of Sustainable Development


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