Actors and Functions of Street Economy

Abstract

Street economy (SE) is defined as the exchange of all kinds of goods and services in public areas, streets, street corners and squares. As in all sectors, SE is composed of two main parts as registered and unregistered. Again, it is divided into two parts as legitimate and illegitimate social and economic activities, in the extent of the limitlessness of human needs and the relatively limited resources. SE consists of all kinds of economic, social, cultural and artistic activities that are carried out on the streets. Virtual streets are added to real streets with globalisation and digitalisation. It is observed that the very small-scale street trade, which is expected and predicted to disappear in the last century, has become more widespread and effective in contrast to all these predictions and expectations. In this chapter, it is foreseen that the SE, with all its sub-sectors, has not yet been measured with its sub-sectors, and with its global buyers and sellers having reached the enormous dimensions that affect the daily life of 5 billion people out of the 8 billion world population. Quantitative indicators compiled from databases show that this set of street traders has reached a global trade volume of $30 trillion under the common denominators. With a volume of $30 trillion, SE has attracted the attention of the producers and investors of street robots as well as other entrepreneurs and researchers. SE, which has been expected to be eliminated and not seen as worthy by economists and politicians, has been the sole supplier of the needs of the poor, with hundreds of sub-sectors. It is seen as the easiest, most common job opportunity of the unemployed. In this chapter, the functions, its place in the city life, its added value at the local and national levels and its problems and global solution proposals of the SE, which is expected to become more important in the world agenda, will be discussed.

Citation

Sirkeci, O. (2020), "Actors and Functions of Street Economy", Grima, S., Sirkeci, O. and Elbeyoğlu, K. (Ed.) Global Street Economy and Micro Entrepreneurship (Contemporary Studies in Economic and Financial Analysis, Vol. 103), Emerald Publishing Limited, Leeds, pp. 11-28. https://doi.org/10.1108/S1569-375920200000103002