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The Informal Economy as a Catalyst for Sustainability

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  • William Ruzek

    (Department of Geography, Florida State University, 600 W. College Ave, Tallahassee, FL 32306, USA)

Abstract

Sustainability typically involves the balancing of three major factors: the economy, the environment, and some notion of equity. Though the economy is already a key aspect, the recognition of the informal economy, seems to be absent from the many possible permutations of these three. This paper will explore the various aspects of the informal economy and how it can make a considerable impact on achieving a more sustainable future. Specifically, this paper focuses on how the informal economy can encourage the sustainable use of goods, while offering an alternative to the regulated market economy. By supporting the informal sectors such as farmers markets, street vendors and non-market activities, a shift away from a car-dominated society and singular economic trajectory can begin. The informal sector can provide, social capital, promote local economies, create jobs and provide the need economic shift toward a sustainable future.

Suggested Citation

  • William Ruzek, 2014. "The Informal Economy as a Catalyst for Sustainability," Sustainability, MDPI, vol. 7(1), pages 1-12, December.
    • Handle: RePEc:gam:jsusta:v:7:y:2014:i:1:p:23-34:d:43861
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    References listed on IDEAS

    as
    1. Kappel, Robert & Ishengoma, Esther K., 2006. "Economic Growth and Poverty: Does Formalisation of Informal Enterprises Matter?," MPRA Paper 1456, University Library of Munich, Germany.
    2. World Commission on Environment and Development,, 1987. "Our Common Future," OUP Catalogue, Oxford University Press, number 9780192820808.
    3. Beate Littig & Erich Griessler, 2005. "Social sustainability: a catchword between political pragmatism and social theory," International Journal of Sustainable Development, Inderscience Enterprises Ltd, vol. 8(1/2), pages 65-79.
    4. Michael Redclift, 2005. "Sustainable development (1987-2005): an oxymoron comes of age," Sustainable Development, John Wiley & Sons, Ltd., vol. 13(4), pages 212-227.
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    Cited by:

    1. Loudi Njoya & Ibrahim Ngouhouo & Moussa Njoupouognigni & Schneider Friederich & Zenabou Tourere, 2024. "Can we understand the simultaneous evolution between economic and informality growth in Africa? A preliminary explanation," Journal of International Development, John Wiley & Sons, Ltd., vol. 36(1), pages 398-414, January.
    2. Gheorghe H. Popescu & Adriana Ana Maria Davidescu & Catalin Huidumac, 2018. "Researching the Main Causes of the Romanian Shadow Economy at the Micro and Macro Levels: Implications for Sustainable Development," Sustainability, MDPI, vol. 10(10), pages 1-37, September.

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