Underground Economy

 This article explains Underground Economy. Underground Economy means that economic transactions are deemed illegal, and these economic activities slip past government surveillance. This article shows the nations with the three largest shadow economies were Zimbabwe (60.6%), Bolivia (62.3%), and Georgia (64.9%). On the other hand, according to the article, the three smallest shadow economies are Austria (8.9%), the United States (8.3%), and Switzerland (7.2%). When I think underground economy, illegal trafficking of weapons and drugs came to mind, but self-employment such as babysitting could be underground economic activity. It implies the difficulty of policing the underground economy. The underground economy supports the economy and it is a part of essential economic activity in the countries such as Zimbabwe and Bolivia. I cannot imagine how many households does Underground Economy support. The underground Economy connects directly to the dark web regarding weapons and drugs, and it could lead to the crisis of international security. However, using countermeasures in the dark would deprive many people’s jobs. That’s why I thought this needed to be dealt with carefully on a global scale.

https://www.investopedia.com/terms/u/underground-economy.asp

Nanami Kanda