underground economy

(noun) “[A]n unregulated economy of labor and goods that operates outside of governance, regulatory systems, or human protections” (OpenStax College 2012).

Audio Pronunciation: (under·ground eco·no·my)

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Usage Notes:

  • Plural: underground economies

Related Terms: 

 


References

OpenStax College. 2012. Global Wealth and Poverty. Connexions, May 14, 2012. (http://cnx.org/content/m42968/1.2/).

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