Considerable differences exist between informal economies. Consequently, a wide range of interests and frames of analysis influence the way they are thought about. Four main approaches are discussed: economic, social, fiscal and regulatory, and living conditions. In turn, four policy choices dealing with informal economies compete: drive them out, make them pay up, improve them, and expand them. The future of informal economies is uncertain, but the concern with them is likely to continue and will challenge the hegemonic role of neoclassical economic theory and the concern with the large corporation.
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References
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