Believe it or not, experts at the World Bank and the IMF are disovering the virtues of something we at Kafila have been, off and on, debating: the so-called ‘underground economy’, the ‘informal sector’ or what has also been called the sphere of ‘noncorporate capital’.

“Economists have long thought the underground economy — the vast, unregulated market encompassing everything from street vendors to unlicensed cab drivers — was bad news for the world economy. Now it’s taking on a new role as one of the last safe havens in a darkening financial climate, forcing analysts to rethink their views”, states a recent Wall Street Journal report from Ahmedabad. Continue reading The Rise of the Underground – A New Discovery? →