TY - JOUR

T1 - What have markets ever done for the poor?

AU - Araujo, Luis

PY - 2013

Y1 - 2013

N2 - This comment addresses the context within which markets have turned into purported panaceas to alleviate poverty and promote development. Expanding formal markets and rescuing the poor from the traps of informality is often seen as recipe to unlock the untapped energies at the base of the pyramid (BoP), turning individuals into budding entrepreneurs and aspiring consumers. But, so far we have failed to appreciate how the informal sector plays a key role in supporting the formal economy and providing a route for subsistence at the BoP.

AB - This comment addresses the context within which markets have turned into purported panaceas to alleviate poverty and promote development. Expanding formal markets and rescuing the poor from the traps of informality is often seen as recipe to unlock the untapped energies at the base of the pyramid (BoP), turning individuals into budding entrepreneurs and aspiring consumers. But, so far we have failed to appreciate how the informal sector plays a key role in supporting the formal economy and providing a route for subsistence at the BoP.

KW - Base-of-the-pyramid (BoP)

KW - markets

KW - formal and informal economy

U2 - 10.1177/1470593113489194

DO - 10.1177/1470593113489194

M3 - Comment/debate

JO - Marketing Theory

JF - Marketing Theory

SN - 1470-5931

ER -