Can we learn from “black markets” in the developing world? Yes.

In the attached video Robert Neuwirth explains that the second largest economy in the world is the unregulated one in developing countries. It will likely soon surpass the United States as the largest economy. Much of this economic activity is derided by Westerners as unregulated chaos. It is the black market, haven for piracy and all sorts of horrible things.

It must be remembered however that one of the reasons this activity is so often marginalized is because it operates largely tax free. Governments always want a cut.

Mr. Neuwirth argues that the unofficial economy in developing countries is a place where we can learn and develop innovative ideas for commerce and that is not something which needs to be “tamed.”