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Economic Shadows and Light
If it is true that we live in a “global village,” bound to one another through commercial, financial, and social ties, then it is also true that informal economic activity in one part of the world has a negative impact elsewhere. And that means that formalizing every economy should be viewed as a global public good.
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ANKARA – If it is true that we live in a “global village,” bound to one another through commercial, financial, and social ties, then it is also true that informal economic activity in one part of the world has a negative impact elsewhere. That means that formalizing every economy should be viewed as a global public good. The G-20 and other international entities should take the lead in ensuring the coordination and cooperation needed to provide it.