Monday 19 November 2012

INFORMALIZATION : Bane Or Boon ?



As urban societies are booming, informal economies are also developing side-by-side. Especially in developing countries, we see posh and luxurious colonies co-existing with slums, shacks and humble, untidy shanties. The capital city, New Delhi of India has plush malls and shopping complexes. But equally popular are the unplanned markets, which have mushroomed at Lajpat Nagar and Sarojini Nagar and numerous other such colonies. Mumbai, which is the financial and industrial capital of India, cannot ignore the existence of ‘Dharvi’, Asia’s largest slum that co-exists with its luxurious housing amenities. Shivajinagar is another example of an unplanned, crowded and an extremely chaotic market.  This is one place where one could find anything and everything under the sun. Being one of the oldest markets of Bangalore, Shivajinagar has yet retained its history, beauty and charm. Informal structures are mushrooming all over the place, but their origins are very old and are the core urban economies.
        Informalisation is also present in modern and developed economies. Social networking sites have become a very effective means of communication all over the world. Developed countries need cheap labour to manufacture luxury items at cheaper prices. So they too depend on developing economies. So all of us are in some way connected to the informal.

-Sharanya Aggarwal

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