Author | Diana PardoThe term ‘informal economy’ (also known as shadow or grey economy), was coined by the International Labour Organisation in 1972. Since then, many economists and writers have dedicated articles and works to set out and define this worldwide phenomenon.Although typically classified as a negative activity, sometimes it can lead to situations of prosperity in unstructured environments. However, it can also be the perfect breeding ground for all forms of extremely harmful actors for society. Knowing the circumstances and addressing them in a smart manner, is a challenge that numerous states and cities are facing.
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