Syndicate content

Add new comment

Submitted by R. Mallory Starr on

What is needed is a good definition of informal trade. My understanding is that informal trade is like the underground economy where there are few records on transactions, prices are not set in that the agreements are only between those doing the trade with no third party (such as governmental organizations) involvements or interference, there are no taxes involved, value is based on individual need and perceptions, and, deals are completed in a very efficient manner.The underground economy is big not only in third world countries but in all countries.