Robert Neuwirth: The power of the informal economy

Robert Neuwirth spent four years among the chaotic stalls of street markets, talking to pushcart hawkers and gray marketers, to study the remarkable "System D," the world's unlicensed economic network. Responsible for some 1.8 billion jobs, it's an economy of underappreciated power and scope.

[MarkoKraguljac]

All I am saying (as my opinion) is that future is in inclusive economy/culture. From family to tribe to nation to the whole world. As we take unconditional care of our own bodies and children and help them grow, we should do (and will) with the whole world. Not for money but because we can, with ease. Distributed and automated informational, energy and production technologies will help us immensely in that.
Thank you for taking part in this discourse.

[Uruz]

Thank you for being open to new ideas! I'm glad to run into someone who doesn't start a flame war when their beliefs are challenged. For the record, I'm certain that we can reach the global community that you envision. I just see us getting there through technological advancement brought about by market solutions rather than central planning. TVP has the same end goal as anarcho-capitalists. Different paths with the same destination in mind. We'll just have to wait and see which works better!

[InfestedChris]

If only these TEDTALKS ideas ACTUALLY were implemented in today's world. This world would be a better place. I would even consider bringing a son or daughter into it, but right now, I would not dare do this at this time.

[tzellis]

This guy is amazing, I love his lecture.

[yanng]

What exactly does he mean by "This is the pickle economy" (min 3:28)
What kind of economy is he referring to?

[MarkoKraguljac]

I am glad if you liked it and found it even a bit thought provoking.

[yyjpyy]

You, gentlemen, dispite disagreeing, have put up an excellent exchange of ideas.

[arbmoneyful]

the power of the free market continues to amaze me, I hate to say it but we could really learn something from these countries

[JWinParis]

'System D' does *not* best translate as 'self-reliance!' It's when you have no choice but to go around the system, as a last resort when you are basically desperate. Very convenient as the authorities can choose to turn a blind eye, but if they want to, they can penalise you because you broke the law. Even though you most likely did so to survive.

[Zeff]

I do see your point, but his outfit didn't distract me at all. In fact, I didn't really notice it until I read SnerdWilliams' comment. Maybe I don't pay attention to details.I just found out that he wore a similar outfit for his PopTech talk. He's trolling us. Lol

[Uruz]

1) I've worked as cash paid construction labor in the past and I made $10/hr. If I had been hired "on the books" my labor would have cost about $25/hr (including the cost of mandated insurance, social security, payroll tax, etc) and I would get about $8/hr after paying personal income tax. 2) The only difference between the formal and informal economies is that in the informal economy there is no third party setting rules for peaceful exchange. Have you never bought something from a flea market?

[saxojon]

An advice: See a documentary called 'Welcome to Lagos'. It's fantastic.

[SnerdWilliams]

I'm distracted by the suit he clearly stole from the Joker.

[experimentjon]

His book seems very controversial...think I need to read it.

[LewisFieldhouse]

This guy sounds like Saul Goodman from Breaking Bad. Close your eyes!

[tapary]

There is strong evidence that the arbiter is almost always a competitor attempting to stifle competition. This is well documented by the new left historian Gabriel Kolko in his book "The Triumph of Conservatism." Others such as Rothbard, DiLorenzo, and Mises have done some very important work in proving the above assertion. It is hard to understand this point with so many conservatives referring to corporatism/fascism as capitalism.

[Darcsied]

The real deal is just in the NAME on the product not the quality. Pleather hand bags don't have the same quality of Leather hand bags. But they are cheaper to make, its also a great opportunity to gain more customers and broaden your brand.

[PingOnThis]

Funny that he thinks that the 'unregulated' market isn't the free market, when it's really the truest example of an actual free market.

[deannashedley]

If you pay attention he states that the shoe company considers people who buy their pirated shoes are not considered part of their market segment. People who want name brand will actually pay for it. Music piracy may be different, but as far as the shoe companies go. people who want THEIR shoes are not buying cheap knock-offs.

[Crapweeds]

Reminds me of the 'cash for gold' episode of southpark.