How Deep Is the Shadow Economy? (Ep. 90)

Our latest Freakonomics Radio podcast is called “How Deep Is the Shadow Economy?” It addresses what we know -- and don't know -- about the gazillions of dollars that never show up on anyone's books.

(You can download/subscribe at iTunes, get the RSS feed, listen via the media player above, or read the transcript below.)

The conversation ranges from the macro to the micro -- that is, from worldwide estimates of the size of the shadow economy to the actual off-the-books transactions (from drug dealing to freelance hair-cutting) that make those dollars flow.