The term “Informal Economy” is bullshit

“Informal economy” has become a catchall of complication and mess. A veritable woodworker’s screw jar of definitions, it means cash. It means a lack of compliance with the registering authorities. It’s a place where anything goes, except company taxes. Above all, it’s a place where we — the formal, legitimate businesses — aren’t, and don’t really plan to invest significant capital any time soon for any reasons besides CSI budget and public relations. It’s the place where we let loose the fresh MBA candidates to cure them of their idealism and energy.

As of 2021, “informal economy” is a phrase that absolves South African businesses of meaningfully serving the overwhelming majority of South Africans when things get hard, or complicated.

Read more, here.