Thursday, January 12, 2012
Rick Bookstaber — The Bifurcated Society
Read it at Rick Bookstaber
The Bifurcated Society
by Rick Bookstaber
Senior Policy Adviser to the Financial Stability Oversight Council and Senior Policy Adviser at the SEC.
If you have been following the current debate about employment, the job guarantee, productivity, living standard, distribution, and creating a vision for the future, go read this. It's insightful in itself and important to this debate, as well as for policy in general.
BTW, this post shows that the informal economy is growing by leaps and bounds. The informal economy is work performed that is not recorded as a transaction, hence, not included in GDP. Recent estimates are that the informal economy is on the order to 10 trillion USD globally.