Recently, Hillary Clinton touted the ways of Brazil as an economic lesson to the world. The economy has consistently grown by 3-6% recently, depending on the estimate, and soon Brazil will display itself on the world stage with soccer’s World Cup and the Olympic Games in 2016. But scratch below the surface and you see a different picture.
The problem is that there are far from enough legitimate jobs. As with the unions in the US, the legitimate jobs have priced themselves out of the market. Fortunately for Brazil, the jobs are driven underground instead of to Mexico or China.