I have written about new estimates for the size of the shadow economy around the world in another post. That post triggered several reactions from readers who – rightfully – mentioned that the shadow economy isn’t necessarily bad. Some of it is simply a reflection of the way we measure GDP. The professional nurse, who cares for an elderly person and receives a salary is added to GDP, while the person who stays at home and cares for his or her elderly parent does not. GDP only accounts for monetary benefits if they are actually charged.
The make-up of the shadow economy
The make-up of the shadow economy
The make-up of the shadow economy
I have written about new estimates for the size of the shadow economy around the world in another post. That post triggered several reactions from readers who – rightfully – mentioned that the shadow economy isn’t necessarily bad. Some of it is simply a reflection of the way we measure GDP. The professional nurse, who cares for an elderly person and receives a salary is added to GDP, while the person who stays at home and cares for his or her elderly parent does not. GDP only accounts for monetary benefits if they are actually charged.