Name: The power of the informal economy
Uploaded: 2012-09-05T15:19:58Z
Duration: 12 min 12 s
Description: Robert Neuwirth spent four years among the chaotic stalls of street markets, talking to pushcart hawkers and gray marketers, to study the remarkable "System D," the world's unlicensed economic network. Responsible for some 1.8 billion jobs, it's an economy of underappreciated power and scope.

Robert Neuwirth spent four years among the chaotic stalls of street markets, talking to pushcart hawkers and gray marketers, to study the remarkable "System D," the world's unlicensed economic network. Responsible for some 1.8 billion jobs, it's an economy of underappreciated power and scope.

The power of the informal economy

The vast informal economy, often dismissed as underground or illegal, is a thriving global force employing 1.8 billion people. In places like Lagos, markets, street hawkers, and even garbage dumps create opportunities that support livelihoods and drive innovation. If combined, this shadow network would form the second largest economy on earth, rivaling the GDP of the United States. Major corporations increasingly recognize its reach, adapting their business models to tap into its extraordinary scope.