Building on the comparative insights of this monograph issue’s contributors, this article offers a theoretical research agenda intended to transcend dichotomization and developmental divides. It argues that instead of a priori ascribing an undesirable normative character to informality, its presence should be seen as an opportunity for understanding the conditions under which multiple forms of claims-making, democracy, and justice will materialize. It further argues that informality serves as an under-explored but critical analytical point of departure for theorizing governance, citizenship, and social order. The article concludes with some thoughts on state theory and how informality provides a lens for conceiving of governance as a system of practices that link citizens, states, and markets, in turn providing a new way of categorizing similarities and differences across various state and developmental contexts.