Tales from the underground economy

Images Offthebookscover
A few days ago, NPR's Public Radio International's This American Life re-aired (and podcasted) an incredible story about Nellie Thomas, a black market ammunition dealer on the South side of Chicago. He had so much cash that he didn't know what to do with it, and he didn't trust banks. So he hid it in plastic bags, mattresses, and pillows. His wealth was also a source of agony because he was embarrassed by how he had earned it. So he came up with a curious, inspirational, and funny way to get rid of it. The story, titled "Everything Must Go," was told by Columbia University sociology professor Sudhir Alladi Venkatesh, who had gotten to know Thomas while writing a book called Off the Books: The Underground Economy of the Urban Poor, about people who earn a living running auto repair shops out of alleys, grocery stores in their homes, and other non-traditional businesses. Venkatesh is featured in Freakonomics, and Cory reviewed Off The Books when it came out but I had forgotten all about it. Nellie Thomas's tale hooked me though. I can't wait to read the whole book to hear interesting financial tales that have nothing to do with Wall Street, or "Main Street" for that matter.
"Everything Must Go" (This American Life), Off the Books: The Underground Economy of the Urban Poor (Amazon)