Informal economy with low productivity
DOI:
https://doi.org/10.35319/lajed.20054272Keywords:
Informal economy, Low productivityAbstract
More than fifteen years ago, Hernando de Soto put the informal economy on the table, after a thorough study of this phenomenon in the Peruvian economy that was published in 1987 under the title of El otro sendero. The dominant thought of that time - and of today - is that informality is a problem because it hides clandestine entrepreneurs, vendors, unregistered competitors, unfair competitors who do not pay taxes and who, ultimately, act outside the law. On the contrary, for de Soto, informality is not a problem, but a solution; it is the popular and creative response of the poor to meet their basic needs in a market economy and when legality becomes a privilege.
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References
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