The fact that the shadow economy, or the black market
or underground economy, is on the rise in the middle of a global financial
crisis should
be no surprise to economists.
A recent post on Steven Levitt and Stephen Dubner’s
Freakonomics blog discussed the growth of the shadow economy
across the world. The post claims that the shadow economy is the second largest
in the world. Freakonomics: “In 2009, the OECD concluded that half the world’s
workers (almost 1.8 billion people) were employed in the shadow economy. By
2020, the OECD predicts the shadow economy will employ
two-thirds of the world’s workers. This new economy even has a name: ‘System
D’.”
In a recent article for Foreign Policy magazine,
Robert Neuwirth argues that “the $10 trillion global black market is the world’s
fastest growing economy — and its future”. Neuwirth discusses that the phrase
“System D” comes from a slang phrase used in French-speaking Africa and the
Caribbean. The “D” stands for the French word “debrouillard”. Neuwirth: “To say
a man is a debrouillard is to tell people how resourceful and ingenious he is.”
Thus, self-starting entrepreneurs who go out on their own for business purposes
without being regulated by bureaucracy and/or without paying taxes are part of
“l’economie de la debrouillardise”, or “Systeme D” on the street.
According to Neuwirth, System D was once small with
simple street merchants. In time, trade within System D has globalized and
expanded. Neuwirth claims that System D is now where the jobs are.
Though being the black market, System D is not limited
to the likes of Tony Soprano, Michael Corleone, and Rico Bandello. In comparing
System D to the US market, Neuwirth claims that “kids selling lemonade from the
sidewalk in front of their houses are part of System D”. As are vendors at flea
markets, roadside farm stands, and swap meets. Neuwirth writes that System D is
a global phenomenon, transporting products across the planet ranging from
machinery to computers to mobile phones.
According to Neuwirth, “System D is growing faster
than any other part of the economy, and it is an increasing force in world
trade”. As such, System D “will be crucial for the development of cities in
the 21st century”.
What is the total value of System D?
Neuwirth explains that based on estimates, the total
value of System D globally is close to $10 trillion. In comparison, the US has
a GDP of $14 trillion. Thus, were System D a sovereign nation, it would be
an economic superpower — the second largest economy in the world.
Neuwirth contends that System D is the wave of the
future for the global economy. From street selling to unlicensed trade to
compensation under-the-table, many workers are off the grid. According to
Neuwirth, System D is opening up the economy and providing new opportunities
for those seeking income through labor.
Though the black market has historically been cast in
a negative light, Neuwirth believes that System D is giving workers an avenue
to embrace their entrepreneurial spirit. Neuwirth: “Even in the most difficult
and degraded situation, System D merchants are seeking to better their lives.”
Sumber :
http://www.forbes.com/sites/benzingainsights/2011/11/07/rise-of-the-shadow-economy-second-largest-economy-in-the-world/#66dd36175d38
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