The Invisible Hand’s Shadow

The shadow economy as an issue for public policy and public administration is something I have been banging on about for several years (see A False Economy, Public Finance, 2004). I recently tried to raise the issue at both the Treasury and Public Administration select committees.

So I was pleased to see a fascinating paper by Sean Mallin of the University of Notre Dame, USA, in the latest edition of ‘Real-World Economics‘. Mullin’s opening paragraph ought to tempt you to read further…. Continue reading