The Underground Economy: Crash Course Econ

The video explores the underground economy, including its definition, measurement, and global impact. It covers both legal and illegal activities that occur outside government regulation, such as unlicensed work and organized crime. The video discusses methods to estimate the size of this economy, like cash demand and electricity use. It highlights the significant role of the informal economy in both developed and developing countries, its challenges, and potential benefits. The video concludes with a discussion on government responses and the importance of understanding this complex economic sector.

What are the potential risks of legalizing the kidney market as discussed in the text?

How does the informal economy impact government statistics and policies?

What role does the informal economy play during economic downturns, according to the text?