This Modern Guide presents a comprehensive synthesis of contemporary
thought on the informal economy, which, as the author demonstrates - far
from being a peripheral feature of the global economy - is a system in
which the majority of the global workforce are employed and which has
pervasive detrimental effects. Formalising it is therefore a priority
for most governments.
Employing theoretical and empirical methodologies, Colin C. Williams
explores the latest research on methods of understanding and measuring
the informal economy in its various forms, and discusses the rationale
behind its participants. Its rigorous discussion of the need to shift
away from solely using tools that punish the practice and towards
aligning social norms with the regulations of formal institutions is
complemented by a rich analysis of how jobs and enterprises across the
world can be encouraged to make the transition towards formalism.
Incentives, education and reform are among the strategies advocated in
this Modern Guide's compelling and lucid roadmap for the transition to
formality.
An invaluable resource for policymakers involved in tax, social security
and labour policies, belonging to both governments and supra-national
institutions, the book will also be valuable for academics and
researchers in sociology, economics and business studies, especially
those with an interest in taxation, industrial relations,
entrepreneurship and labour economics.
