3 ms·
> the law regulates (or frees) the market. and yet, black markets exists, especially in places where the law fails to provide or provision a sufficiently free
by chii 3y ago
> the law regulates (or frees) the market.
and yet, black markets exists, especially in places where the law fails to provide or provision a sufficiently free market for some goods/services.
So i would argue that the law does not decide this, or you could call it law of nature that decides it.
- RandomLensman 3y agoEven these black markets tend to use the institutions of law and society, for example, money and they rely on the protection of law, too, i.e., law enforcement isn't typically free to do whatever to combat them. Where enforcement is strongest, black markets have a hard time forming.