
The informal economy is a vast and complex part of the global economic landscape. From street vendors in Lagos to home-based garment makers in Dhaka, informal work sustains millions of livelihoods. Yet, despite its prevalence, the informal sector is often misunderstood, shrouded in myths and misconceptions that influence policy, public opinion, and economic discourse. This…

When you study international business, you learn about formal economy impact: stock exchanges, patents, banking contracts. The message is clear—success comes from following rules, using standardized contracts, and working within official frameworks. But after 20 years working in Southeast Asia, especially Hanoi, Vietnam, I discovered something textbooks never mention: we’re only seeing half the picture.…