Monday, May 13, 2013

where the informal economy beats the formal

Here's an amazing stat:

A hardy street vendor in Asuncion selling tereré -- the cold infusion of yerba mate with mint or lemongrass that's Paraguay's national drink -- can pocket double the nation's minimum wage. A street currency trader whose office is a wooden stool set up on a busy corner can bring in the monthly minimum in a little more than a week.

La Prensa has details.

1 comment:

Klaus said...

Seems there is no incentive for these entrepreneurs to incorporate, obtain a license, collect sales tax, or otherwise become "legal". In fact, I bet I could learn a lot on how to run a business from them!