At rush hour it is virtually impossible to get a cab ride in Bogota or Lima. The last time I went to Bogotá, the line for taxis at the airport was even longer than the queue for immigration. I was tired, it was 10:30 pm and it drizzled. I would have given my kingdom for an Uber, which does charge more if demand is higher. Finally, and after an hour long wait, I got into a dirty … [Read more...] about An informal Uber?
In some of the development literature, the informal sector is seen as a locked source of capital and growth. Find the key to unlock it and the dam of repressed innovation will water the fertile fields of formal capitalism. In the opposite view, the informal sector is outright a dangerous parasite that sucks life from the formal sector and hinders economic growth. This is not a … [Read more...] about Informal sector: hidden capital or vampire?