Forget China, 'System D' Is World's Second Largest Economy
Read more: http://articles.businessinsider.com/2012-01-19/home/30641956_1_shadow-economy-official-economy-new-economy#ixzz1nqgUNeIs
A recent article at Foreign Policy noted that the $10 trillion global black market is now the world’s fastest growing economy, and that 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’.
According to an IMF economic study, black market, also called the shadow, underground, informal, or parallel economy, "includes not only illegal activities but also unreported income from the production of legal goods and services, either from monetary or barter transactions. Hence, the shadow economy comprises all economic activities that would generally be taxable were they reported to the tax authorities."
The meaning of two sentence in this article :
1. "Tidak hanya mencakup kegiatan ilegal tetapi juga pendapatan tidak dilaporkan dari produksi barang dan jasa hukum, baik dari transaksi moneter atau barter. Oleh karena itu , ekonomi bayangan terdiri dari semua kegiatan ekonomi yang umumnya akan dikenakan pajak yang mereka dilaporkan kepada otoritas pajak."
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