Chapter 1: Impacts of Informal Economy on the Glocal Sustainable and Inclusive Development and Sustainability: From the Political Economy and Ethics Perspectives

Based on an in-depth literature review, this chapter aims to examine impacts of informal economy on the glocal sustainable and inclusive development and sustainability from the political economy and ethics perspectives. This chapter examines drivers for and causes of the informal economy from the perspective of the sustainability's three pillars. Furthermore, this chapter examines opportunity cost of the informal economy. It highlights informal economy's impacts on fair competition, circular economy, factors of production, and socio-economic aspects. Furthermore, this chapter discusses the informal economy from an ethical perspective. It highlights informal employment, its impacts on sustainability, and sustainable and inclusive development. This chapter provides recommendations on how to enhance glocal sustainable and inclusive development, and sustainability through reduced informal economy and its adverse impacts.