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A large percentage of workers and firms operate in the informal economy, outside the line of sight of governments in emerging market and developing economies. This may hold back the recovery in these economies from the deep recessions caused by the COVID-19 pandemic--unless governments adopt a broad set of policies to address the challenges of widespread informality. This study is the first comprehensive analysis of the extent of informality and its implications for a durable economic recovery and for long-term development. It finds that pervasive informality is associated with significantly weaker economic outcomes--including lower government resources to combat recessions, lower per capita incomes, greater poverty, less financial development, and weaker investment and productivity.
The men and women in Invisible Hands reveal the human rights abuses occurring behind the scenes of the global economy. These narrators — including phone manufacturers in China, copper miners in Zambia, garment workers in Bangladesh, and farmers around the world — reveal the secret history of the things we buy, including lives and communities devastated by low wages, environmental degradation, and political repression. Sweeping in scope and rich in detail, these stories capture the interconnectivity of all people struggling to support themselves and their families. Narrators include Kalpona, a leading Bangladeshi labor organizer who led her first strike at 15; Han, who, as a teenager, began assembling circuit boards for an international electronics company based in Seoul; Albert, a copper miner in Zambia who, during a wage protest, was shot by representatives of the Chinese-owned mining company that he worked for; and Sanjay, who grew up in the shadow of the Bhopal chemical disaster, one of the worst industrial accidents in history.
Private equity firms have long been at the center of public debates on the impact of the financial sector on Main Street companies. Are these firms financial innovators that save failing businesses or financial predators that bankrupt otherwise healthy companies and destroy jobs? The first comprehensive examination of this topic, Private Equity at Work provides a detailed yet accessible guide to this controversial business model. Economist Eileen Appelbaum and Professor Rosemary Batt carefully evaluate the evidence—including original case studies and interviews, legal documents, bankruptcy proceedings, media coverage, and existing academic scholarship—to demonstrate the effects of private equity on American businesses and workers. They document that while private equity firms have had positive effects on the operations and growth of small and mid-sized companies and in turning around failing companies, the interventions of private equity more often than not lead to significant negative consequences for many businesses and workers. Prior research on private equity has focused almost exclusively on the financial performance of private equity funds and the returns to their investors. Private Equity at Work provides a new roadmap to the largely hidden internal operations of these firms, showing how their business strategies disproportionately benefit the partners in private equity firms at the expense of other stakeholders and taxpayers. In the 1980s, leveraged buyouts by private equity firms saw high returns and were widely considered the solution to corporate wastefulness and mismanagement. And since 2000, nearly 11,500 companies—representing almost 8 million employees—have been purchased by private equity firms. As their role in the economy has increased, they have come under fire from labor unions and community advocates who argue that the proliferation of leveraged buyouts destroys jobs, causes wages to stagnate, saddles otherwise healthy companies with debt, and leads to subsidies from taxpayers. Appelbaum and Batt show that private equity firms’ financial strategies are designed to extract maximum value from the companies they buy and sell, often to the detriment of those companies and their employees and suppliers. Their risky decisions include buying companies and extracting dividends by loading them with high levels of debt and selling assets. These actions often lead to financial distress and a disproportionate focus on cost-cutting, outsourcing, and wage and benefit losses for workers, especially if they are unionized. Because the law views private equity firms as investors rather than employers, private equity owners are not held accountable for their actions in ways that public corporations are. And their actions are not transparent because private equity owned companies are not regulated by the Securities and Exchange Commission. Thus, any debts or costs of bankruptcy incurred fall on businesses owned by private equity and their workers, not the private equity firms that govern them. For employees this often means loss of jobs, health and pension benefits, and retirement income. Appelbaum and Batt conclude with a set of policy recommendations intended to curb the negative effects of private equity while preserving its constructive role in the economy. These include policies to improve transparency and accountability, as well as changes that would reduce the excessive use of financial engineering strategies by firms. A groundbreaking analysis of a hotly contested business model, Private Equity at Work provides an unprecedented analysis of the little-understood inner workings of private equity and of the effects of leveraged buyouts on American companies and workers. This important new work will be a valuable resource for scholars, policymakers, and the informed public alike.
Describes the informal economy and highlights its decent work deficit. Proposes an integrated strategy to address underlying causes of informality and to promote decent work in all sectors of the economy, from formal to informal.
"A startling exposé of the invisible human workforce that powers the web--and how to bring it out of the shadows. Hidden beneath the surface of the internet, a new, stark reality is looming--one that cuts to the very heart of our endless debates about the impact of AI. Anthropologist Mary L. Gray and computer scientist Siddharth Suri unveil how the services we use from companies like Amazon, Google, Microsoft, and Uber can only function smoothly thanks to the judgment and experience of a vast human labor force that is kept deliberately concealed. The people who do 'ghost work' make the internet seem smart. They perform high-tech, on-demand piecework: flagging X-rated content, proofreading, transcribing audio, confirming identities, captioning video, and much more. The shameful truth is that no labor laws protect them or even acknowledge their existence. They often earn less than legal minimums for traditional work, they have no health benefits, and they can be fired at any time for any reason, or for no reason at all. An estimated 8 percent of Americans have worked in this 'ghost economy,' and that number is growing every day. In this unprecedented investigation, Gray and Suri make the case that robots will never completely eliminate 'ghost work' and the unchecked quest for artificial intelligence could spark catastrophic work conditions if not stopped in its tracks. Ultimately, they show how this essential type of work can create opportunity--rather than misery--for those who do it."--Dust jacket.
"Demographic and technological trends have yielded new forms of work that are increasingly more precarious, globalized, and brand centered. Some of these shifts have led to a marked decrease in the visibility of work or workers. This edited collection examines situations in which technology and employment practices hide labor within the formal paid labor market, with implications for workplace activism, social policy, and law. In some cases, technological platforms, space, and temporality hide workers and sometimes obscure their tasks as well. In other situations, workers may be highly visible--indeed, the employer may rely upon the workers' aesthetics to market the branded product--but their aesthetic labor is not seen as work. In still other cases, the work occurs within a social interaction and appears as leisure--a voluntary or chosen activity--rather than as work. Alternatively, the workers themselves may be conceptualized as consumers rather than as workers. Crossing the occupational hierarchy and spectrum from high- to low-waged work, from professional to manual labor, and from production to service labor, the authors argue for a broader understanding of labor in the contemporary era. This book adopts an interdisciplinary approach that integrates perspectives from law, sociology, and industrial/labor relations"--Provided by publisher.
Illegal immigrants constitute a major issue in southern European countries. This book is the first piece of published research in this area and gives a comparative analysis of southern European immigration policies. Detailed accounts of each country's pattern of informal immigrant employment are located within a broader setting of contemporary immigration controls.
Reviews ILO research on women, gender and the informal economy. It compares and contrasts analytical and methodological frameworks used in various studies, identifies research gaps and directions for future research, and indicates key findings that may assist concerned ILO units in taking action and formulating policy directions.
"Families around the world look, feel, and live differently today. Families can be “make or break” for women and girls when it comes to achieving their rights. They can be places of love, care, and fulfillment but, too often, they are also spaces where women’s and girls’ rights are violated, their voices are stifled, and where gender inequality prevails. In today’s changing world, laws and policies need to be based on the reality of how families live. UN Women’s flagship report, “Progress of the world’s women 2019–2020: Families in a changing world”, assesses the reality of families today in the context of sweeping economic, demographic, political, and social transformation. The report features global, regional, and national data. It also analyses key issues such as family laws, employment, unpaid care work, violence against women, and families and migration. At a critical juncture for women’s rights, this landmark report proposes a comprehensive family-friendly policy agenda to advance gender equality in diverse families. A package of policies to deliver this agenda is affordable for most countries, according to a costing analysis included in the report. When families are places of equality and justice, economies and societies thrive and unlock the full potential of the Sustainable Development Goals (SDGs). The report shows that achieving the SDGs depends on promoting gender equality within families." -- UNWomen.org.