English Lexicon

Shadow Economy

/ˈʃædoʊ ɪˈkɒnəmi/
nounCEFR C1 (Advanced)Top #2500 frequency
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Comprehensive Definitions & Senses

2 senses
As noun
  1. 1

    Economic activities that are not monitored or regulated by the government.

    "Many workers in the shadow economy do not pay taxes on their earnings."
  2. 2

    A sector of the economy that operates outside of official channels, often involving illegal or unreported transactions.

    "The shadow economy can include everything from unregistered businesses to illegal trade."

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Antonyms & Contrasting Words (1)

Linguistic Origin & Historical Etymology

The term 'shadow economy' combines 'shadow', derived from Old English 'sceadu', meaning 'shade' or 'darkness', and 'economy', from Greek 'oikonomia', meaning 'household management'. The phrase evolved in the late 20th century to describe economic activities that occur outside government regulation.

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