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Stealth of Nations: The Global Rise of the Informal Economy ReviewAt a time when we have serious concerns over unemployed and underemployed, about regulation that strangles or stifles business, and taxation and tariff rates that drive prices through the roof, this fascinating little gem grabs you from the start with stories and data about the 'real' economy around the world, where currently fifty percent (and moving towards sixty percent) of the billions of working people in the world are doing so in the 'informal' economy, below the radar, off the official record, not part of world GDP. Neuwirth cites an estimate that this 'informal' economy amounts to about $10 trillion dollars annually, or about one-eighth of the world economy. Why so many people and so little economic impact? Because the margins in this business are razor-thin, where unfettered and, yes, in some cases, illegal, immoral and unscrupulous business better expresses capitalism than does the image of the multi-billion dollar global corporation.Working his way through South America, China and Africa, Neuwirth meets and understands the people, their motives, and their practices. He is not writing about the darkest side of the economy, i.e., sex, drug and nuclear weapons trade, but rather the basic human element of survival, where entrepreneurs with a real flair for business work deals between Nigeria and China, dealing only in cash, bribing and smuggling, and providing a living for tens of millions of people. One can't decide if this is the solution to world economic problems, the 'real' economic problem itself, or just a grey underground world of questionable practices. Yet as scholars and over the years have noted over the years, the practice of these entrepreneurs are not that morally different from that of the established corporations. While I am not ready to go that far, read it and decide for yourself.Stealth of Nations: The Global Rise of the Informal Economy Overview
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