The hidden growth in the informal economy

It is surprising how frequently we limit our worldview to "people like us". Nowhere is this more obvious than when commentators fret about a collapse in the economy because of a lack of job creation. It is indeed a tragic state of affairs when the hundreds of thousands of recently graduated engineers, MBAs, chartered accountants and lawyers struggle to find jobs; when graduates prefer to wash dishes because it pays more than a white-collar job, or when entry-level engineers in top IT firms take less cash home than taxi drivers.

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