Underground Economy

The underground economy, which consists of all commerce on which applicable taxes are being evaded, leads to misleading macroeconomic indicators and thus the application of irrational economic policies. During the 1960s, the underground economy began to be discussed as an important economic and social issue in western economies and in the U.S.A. In the 1980's it became a problem discussed in all economies worldwide. During the last few years, there has been growing concern about the phenomenon of the hidden (or shadow) economy among the public, politicians, and social scientists. A useful and commonly used working definition of the underground economy is: All economic activities that contribute to value-added and should be included in national income in terms of national accounting conventions but are presently not registered by national measurement agencies. First, the definition of the underground economy will be given, second, the positive and negative effects will be explained. In the last part, the works to measure the underground economy and the dimension of the underground economy will be mentioned. The phenomenon of the informal economy is defined under various names in the literature, indicating various aspects of it: underground economy, informal economy, unobserved economy, shadow economy, second economy, parallel economy, hidden economy, illegal economy, unrecorded economy, marginal economy, unreported economy, the unofficial economy, dual economy, etc. This variation makes it difficult to develop a common definition. In academic studies, the term "underground economy" is considered the most comprehensive definition, as it includes illegality. In this Ebook you will learn: What is the underground economy? What is the economic idea? Is the black market good for the economy? Is it illegal to watch the black market? Where can it be found? Why is it illegal? Countries with the largest underground economies. The rise of globalization What role does an economic system play in society? The Four Economies and How Underground Economies Affect Them Economic growth When you are done reading this book, you will have gained a lifetime of experience in just a few short hours. The stories are interesting to follow, and the challenging concepts have been made easy to understand. So get ready to broaden your horizons and adjust your expectations because you are in for one hell of a ride! Are you ready? If you are, Click Buy Now With 1-Click or Buy Now to get started!