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Are you kidding me? In what world is the black market a free market? The entire reason it's called an "underground" market is because it can't legally operate
by sixQuarks 12y ago
Are you kidding me? In what world is the black market a free market? The entire reason it's called an "underground" market is because it can't legally operate as a free market.
- gnur 12y agoDepends on your definition of a free market. It is free in the sense there is no government (or other entity) controlling it.
- woah 12y agoSay what? The black market is completely defined and dominated by the heaviest form of government control, literally men with guns kicking down your door.
- irishcoffee 12y agofree mar·ket noun an economic system in which prices are determined by unrestricted competition between privately owned businesses. By that definition, the black market is a free market. You could argue about the word 'unrestricted' but I doubt you'd change my mind.
- mattstreet 12y agoThe competition is limited to entities willing to break the law and deal with other people doing the same.
- irishcoffee 12y agoThat doesn't really say anything at all. The bakery competition is limited to people who want to run a bakery. The beer store market is limited to people who want to run beer stores. Breaking the law obviously isn't an issue for people in drug industry.
- mfisher87 12y agoWhat you're describing is the point in time when an entity exits the free market. How does the government control the market aside from whack-a-moleing individual entities? How does whack-a-mole have a controlling effect on entities who haven't been whacked yet?
- HarryHirsch 12y agoWhat do you mean? The underground market is perfectly free, you have only private entities contracting with each other, with no appeal to a higher power (i.e. the law) possible. Whatever rules are in effect instead are instituted and upheld by the market participants.