Invisible, Outlawed, and Untaxed: America's Underground Economy

(Hardback)

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This work examines America's growing underground economy--its size, nature, and economic effects. The study begins with a critical analysis of the various methods used for measuring the size of the underground economy in the United States. It then develops a definition of the underground economy which is consistent with our system of national accounts. A sector-by-sector approach is used to measure the actual size of this sub-economy and to estimate the labor force involved. Finally, the author explores the economic consequences for the general economy of significant underground economic activity--for example: tax evasion, economic efficiency, and cyclical aspects. This work will be of interest to scholars, students, and policy-makers in economics, economic policy, political science, and criminology.

Author Bio

HARRY I. GREENFIELD is Professor Emeritus of Economics at Queens College of the City University of New York. He is the author of several books including Manpower and the Growth of Producer Services (1966) and Hospital Efficiency and Public Policy (1973).