A black market
, underground economy
or shadow economy
, is a clandestine market
or series of transactions that has some aspect of illegality or is characterized by some form of noncompliant behavior with an institutional set of rules. If the rule defines the set of goods and services whose production and distribution is prohibited by law, non-compliance with the rule constitutes a black market trade since the transaction itself is illegal. Parties engaging in the production or distribution of prohibited goods and services are members of the illegal economy. Examples include the drug trade, prostitution
(where prohibited), illegal currency transactions and human trafficking.
Violations of the tax code involving income tax evasion constitute membership in the unreported economy.
A black market salesman (fly by night) depicted in graffiti
, Ukraine (2008)
Because tax evasion or participation in a black market activity is illegal, participants will attempt to hide their behavior from the government or regulatory authority.
Cash usage is the preferred medium of exchange in illegal transactions since cash usage does not leave a footprint.
Common motives for operating in black markets are to trade contraband, avoid taxes and regulations, or skirt price controls or rationing. Typically the totality of such activity is referred to with the definite article as a complement to the official economies, by market for such goods and services, e.g. "the black market in bush meat".
The black market is distinct from the grey market
, in which commodities are distributed through channels that, while legal, are unofficial, unauthorized, or unintended by the original manufacturer, and the white market
, in which trade is legal and official.
is the proceeds of an illegal transaction, on which income and other taxes
have not been paid, and which can only be legitimised by some form of money laundering
. Because of the clandestine nature of the black economy it is not possible to determine its size and scope.
Mercado Negro, so called "Black Market", in La Paz
The literature on the black market has not established a common terminology and has instead offered many synonyms including: subterranean; hidden; grey
; shadow; informal; clandestine; illegal; unobserved; unreported; unrecorded; second; parallel and black.
There is no single underground economy; there are many. These underground economies are omnipresent, existing in market oriented as well as in centrally planned nations, be they developed or developing. Those engaged in underground activities circumvent, escape or are excluded from the institutional system of rules, rights, regulations and enforcement penalties that govern formal agents engaged in production and exchange. Different types of underground activities are distinguished according to the particular institutional rules that they violate. Four major underground economies can be identified:
- the illegal economy
- the unreported economy
- the unrecorded economy
- the informal economy
The "illegal economy" consists of the income produced by those economic activities pursued in violation of legal statutes defining the scope of legitimate forms of commerce. Illegal economy participants engage in the production and distribution of prohibited goods
, such as drug trafficking
, arms trafficking
, and prostitution
The "unreported economy" consists of those economic activities that circumvent or evade the institutionally established fiscal rules as codified in the tax code. A summary measure of the unreported economy is the amount of income that should be reported to the tax authority but is not so reported. A complementary measure of the unreported economy is the "tax gap
", namely the difference between the amount of tax revenues due the fiscal authority and the amount of tax revenue actually collected. In the U.S. unreported income is estimated to be $2 trillion resulting in a "tax gap" of $450–$600 billion.
The "unrecorded economy" consists of those economic activities that circumvent the institutional rules that define the reporting requirements of government statistical agencies.
A summary measure of the unrecorded economy is the amount of unrecorded income, namely the amount of income that should (under existing rules and conventions) be recorded in national accounting systems (e.g. National Income and Product Accounts
) but is not. Unrecorded income is a particular problem in transition countries
that switched from a socialist
accounting system to UN standard national accounting
. New methods have been proposed for estimating the size of the unrecorded (non-observed) economy.
But there is still little consensus concerning the size of the unreported economies of transition countries.
The "informal economy
" comprises those economic activities that circumvent the costs and are excluded from the benefits and rights incorporated in the laws and administrative rules covering property relationships, commercial licensing, labor contracts, torts, financial credit and social security systems.
A summary measure of the informal economy is the income generated by economic agents that operate informally.[page needed]
The informal sector is defined as the part of an economy that is not taxed
, monitored by any form of government
, or included in any gross national product
(GNP), unlike the formal economy. In developed countries
the informal sector is characterized by unreported employment
. This is hidden from the state for tax, social security or labour law purposes but is legal in all other aspects.
On the other hand, the term black market
can be used in reference to a specific part of the economy in which contraband
Goods and services acquired illegally and/or transacted for in an illegal manner may exchange above or below the price of legal market transactions:
- They may be cheaper than legal market prices. The supplier does not have to pay for production costs and/or taxes. This is usually the case in the underground economy. Criminals steal goods and sell them below the legal market price, but there is no receipt, guarantee, and so forth. When someone is hired to perform work and the client is unable to write off the expense (particularly common for work such as home renovations or cosmetological services), the client may be inclined to request a lower price (usually paid in cash) in exchange for foregoing a receipt, which enables the service provider to avoid reporting the income on his or her tax return.
- They may be more expensive than legal market prices. For example, the product is difficult to acquire or produce, dangerous to handle, is strictly rationed, or not easily available legally if at all. If exchange of goods are made illegal by some sort of state sanction, such as is often seen with certain pharmaceutical drugs, their prices will tend to rise as a result of that sanction.
No government, no global nonprofit, no multinational enterprise can seriously claim to be able to replace the 1.8 billion jobs created by the economic underground. In truth, the best hope for growth in most emerging economies lies in the shadows.
Even when the underground market offers lower prices, consumers still have an incentive to buy on the legal market when possible, because:
- They may prefer legal suppliers, as they are easier to contact and can be held accountable for faults;
- In some jurisdictions, such as the United States, customers may be charged with a criminal offense if they knowingly participate in the black economy, even as a consumer;
- They may have a moral dislike of black marketing;
- In some jurisdictions (such as England and Wales), consumers found to be in possession of stolen goods will have them taken away if they are traced, even if they did not know they were stolen. Though they themselves will not usually face criminal prosecution, they are still left without the goods they paid for and with little if any recourse to get their money back. This risk may make some averse to buying goods that they think may be from the underground market, even if in fact they are legitimate (for example, items sold at a car boot sale).
However, in some limited situations, consumers conclude that they are actually better off using black market services, particularly when government regulations hinder what would otherwise be a legitimate competitive service. For example:
. In Baltimore
, it has been reported that many consumers actively prefer illegal taxis, citing that they are more available, convenient, and priced fairly.
Traded goods and services
Some examples of underground economic activities include:
Sexual exploitation and forced labor
is illegal or highly regulated in many countries across the world. These places form a classic study of the underground economy, because of consistent high demand from customers, relatively high pay, but labor-intensive and low skilled work, which attracts a continual supply of workers. While prostitution exists in every country, studies show that it tends to flourish more in poorer countries, and in areas with large numbers of unattached men, such as around military bases.
For instance, an empirical study showed that the supply of prostitutes rose abruptly in Denver and Minneapolis in 2008 when the Democratic and Republican National Conventions took place there.
Prostitutes in the black market generally operate with some degree of secrecy, sometimes negotiating prices and activities through codewords
and subtle gestures. In countries such as Germany
or the Netherlands
, where prostitution is legal but regulated, illegal prostitutes exist whose services are offered cheaper without regard for the legal requirements or procedures—health checks, standards of accommodation, and so on.
In other countries, such as Nicaragua
, where legal prostitution is regulated, hotels may require both parties to identify themselves, to prevent the rise of child prostitution
Personally identifying information
, financial information like credit card and bank account information, and medical data
is bought and sold, mostly in darknet markets
People increase the value of the stolen data by aggregating it with publicly available data, and sell it again for a profit, increasing the damage that can be done to the people whose data was stolen.
From the late 19th and early 20th centuries, many countries began to ban the keeping or using of some recreational drugs
, such as the United States' war on drugs
. Many people nonetheless continue to use illegal drugs, and a black market exists to supply them. Despite law enforcement efforts to intercept them, demand remains high, providing a large profit motive
for organized criminal groups
to keep drugs supplied. The United Nations has reported that the retail market value of illegal drugs is US$321.6 billion.
Although law enforcement agencies intercept a fraction of the illegal drugs, and incarcerate hundreds of thousands of wholesale and retail sellers, the very stable demand for such drugs and the high profit margins encourages new distributors to enter the market without a decrease in the retail price. Many drug legalization
activists draw parallels between the illegal drug trade and the Prohibition
of alcohol in the United States in the 1920s.
A tower of confiscated smuggled weapons about to be incinerated in Nairobi
of many countries forbid or restrict the personal ownership
. These restrictions can range from small knives
, either altogether or by classification (e.g. caliber
, automatic weapons
, and explosives
). The black market supplies the demands for weaponry that can not be obtained legally, or may only be obtained legally after obtaining permits and paying fees. This may be by smuggling
the arms from countries where they were bought legally or stolen, or by stealing from arms manufacturers within the country itself, using insiders
. In cases where the underground economy is unable to smuggle firearms, they can also satisfy requests by gunsmithing
their own firearms. Those who may buy this way include criminals
to use for illegal activities, gun collectors, and otherwise law-abiding citizens interested in protecting their dwellings, families or businesses.
In England and Wales, certain categories of weapons used for hunting may be owned by qualified residents but must be registered with the local police force and kept within a locked cabinet. Another segment of the population who may purchase weapons on the black market are individuals who are unable to pass the legal requirements for registration—convicted felons or those suffering from mental illness for example. In a few jurisdictions, collectors may legally keep antique weapons made incapable of being readily restored to a firing condition.
Illegally logged timber
The illegal logging of timber
has posed as an issue. According to Interpol
, the illegal logging industry is worth almost as much as drug production industry, in some countries.
Animals and animal products
In many developing countries, living animals are captured in the wild and sold as pets. Wild animals are also hunted and killed for their meat
, hide, and organs, the latter of which and other animal parts are sold for use in traditional medicine.
In several of the states within the United States
, laws requiring the pasteurization of milk has created black market situations involving the transport and sale of raw milk
, and sometimes raw milk cheese which is legal in a number of EU countries but banned in the US if aged less than 60 days
, or bootlegging, is the illegal business of transporting (smuggling
) alcoholic beverages
where such transportation is forbidden by law. Smuggling is usually done to circumvent taxation
laws within a particular jurisdiction. The term rum-running
is more commonly applied to smuggling over water; bootlegging
is applied to smuggling over land. According to the PBS
, the term "bootlegging" was popularized when thousands of city dwellers would sell liquor from flasks they kept in their boot leg all across major cities and rural areas.
The term "rum-running" most likely originated at the start of Prohibition in the United States
(1920–1933), when ships from Bimini
in the western Bahamas transported cheap Caribbean rum
to Florida speakeasies
. But rum
's cheapness made it a low-profit item for the rum-runners, and they soon moved on to smuggling Canadian whisky
, French champagne
, and English gin
to major cities like New York City
, where prices ran high. It was said that some ships carried $200,000 in contraband in a single run.
It has been reported that smuggling one truckload of cigarettes from a low-tax US state
to a high-tax state can lead to a profit of up to $2 million.
The low-tax states are generally the major tobacco producers, and have come under enormous criticism for their reluctance to increase taxes. North Carolina
eventually agreed to raise its taxes from 5 cents to 35 cents per pack of 20 cigarettes, although this remains far below the national average.
But South Carolina
has so far refused to follow suit and raise taxes from seven cents per pack (the lowest in the USA).
In the UK, it has been reported that "27% of cigarettes and 68% of roll your own tobacco is purchased on the black market".
According to the World Health Organization
(WHO), illegal organ trade occurs when organs are removed from the body for the purpose of commercial transactions.
justifies its stance on the issue by stating, "Payment for ... organs is likely to take unfair advantage of the poorest and most vulnerable groups, undermines altruistic donation and leads to profiteering and human trafficking."
Despite these ordinances, it was estimated that 5% of all organ recipients engaged in commercial organ transplant in 2005.
Research indicates that illegal organ trade is on the rise, with a recent report by Global Financial Integrity
estimating that the illegal organ trade generates profits between $600 million and $1.2 billion per year with a span over many countries.
is a service that is fraudulently
offered to solve a problem, such as for a problem that does not actually exist, that will not be put into effect, or that would not otherwise exist if the racket did not exist. Conducting a racket is racketeering.
Particularly, the potential problem may be caused by the same party that offers to solve it, although that fact may be concealed, with the specific intent to engender continual patronage for this party. An archetype is the protection racket
, wherein a person or group (e.g., a criminal gang) indicates to a store owner that they could protect her/his store from potential damage, damage that the same person or group would otherwise inflict, while the correlation of threat and protection may be more or less deniably veiled, distinguishing it from the more direct act of extortion
. Racketeering is often associated with organized crime
, and the term was coined by the Employers' Association of Chicago
in June 1927 in a statement about the influence of organized crime in the Teamsters
Where taxicabs, buses, and other transportation providers are strictly regulated or monopolized by government, a black market typically flourishes to provide transportation to poorly served or overpriced communities. In the United States, some cities restrict entry to the taxicab market with a medallion system, i.e., taxicabs must get a special license and display it on a medallion in the vehicle. In most such jurisdictions it is legal to sell the medallions, but the limited supply and resulting high prices of medallions have led to a market in unlicensed carpooling
/illegal taxicab operation
. In Baltimore
, for example, it is not uncommon for private individuals to provide illegal taxicab service
for city residents.
In places where there is rent control
there may be a black market for housing. For instance, in the UK there is illegal subletting
of social housing
homes where the tenant illegally rents out the home at a higher rent.
In Sweden, rental contracts with regulated rent can be bought on the black market,
either from the current tenant or sometimes directly from the property owner. Specialised black-market dealers assist the property owners with such transactions.
In India, places like Chennai, Bangalore, Hyderabad, Mumbai, Kolkotta and New Delhi, where students are coming from all over India, getting high rented paying guests or other forms of rented apartments without any taxation or regulations.
Counterfeit medicine, essential aircraft and automobile parts
Medicines and essential aircraft and automobile parts (e.g. brakes, motor parts, etc.) are counterfeited on a large scale.
in countries where there is little enforcement of copyright law
, particularly in Asia and Latin America, often sell deeply discounted copies of films
, music CDs
, and computer software
such as video games
, sometimes even before the official release of the title. A determined counterfeiter with a few hundred dollars can make copies that are digitally identical to an original and face no loss in quality; innovations in consumer DVD
writers and the widespread availability of cracks
on the Internet
for most forms of copy protection
technology make this cheap and easy to do.
Copyright-holders and other proponents of copyright laws have found this phenomenon hard to stop through the courts, as the operations are distributed and widespread,
transversing national borders and thus legal systems. Since digital information can be duplicated repeatedly with no loss of quality, and passed on electronically at little to no cost, the effective underground market value of media is zero, differentiating it from nearly all other forms of underground economic activity. The issue is compounded by widespread indifference to enforcing copyright law, both with governments and the public at large. To steal a car is seen as a crime in most people's eyes, but to obtain unauthorized copies of music or a game is not.
Additionally, not all people agree
with 'copyright laws', as it unfairly criminalises competition, allowing the copyright-holder to effectively monopolise related industries. It also authorises copyright-holders to use region-coding
to discriminate against selected populations price-wise and availability-wise.
The comparison to car-theft, although common, is not truly analogous. Automobile theft results in an item being removed from the owner with the ownership transferred to a second party. Media piracy is a crime of duplication, with no physical property being stolen. Copyright infringement law goes as far as to deem illegal "mixtapes
" and other such material copied to tape or disk. Copyright holders typically attest the act of theft to be in the profits forgone to the pirates. However, this makes the unsubstantiated assumption that the pirates would have bought the copyrighted material if it had not been available through file sharing
or other means. Copyright holders also say that they did some work for creating their copyrighted material and they wish to get compensated for their work. No other system than copyright has been found to compensate the artists and other creators for their work,
and many artists do not have any alternative source of income or another job. Many artists and film producers have accepted the role of piracy in media distribution.
The spread of material through file sharing is a major source of publicity for artists and has been shown to build fan bases that may be more inclined to see the performer live
(live performances make up the bulk of successful artists' revenues,
however not all artists can make live performances, for example photographers typically only have a single source of income that is the licensing of their photos).
Money itself is traded on the black market. This may happen for one or more of several reasons:
- The government sets ("pegs") the local currency at some arbitrary level to another currency that does not reflect its true market value.
- A government makes it difficult or illegal for its citizens to own much or any foreign currency.
- The government taxes exchanging the local currency with other currencies, either in one direction or both (e.g. foreigners are taxed to buy local currency, or residents are taxed to buy foreign currency).
- The currency is counterfeit.
- The currency has been acquired illegally and needs to be laundered before the money can be used.
A government may officially set the rate of exchange of its currency with that of other currencies, typically the US dollar
. When it does, the peg often overvalues the local currency relative to what its market value would be if it were a floating currency
. Those in possession of the "harder" currency, for example expatriate
workers, may be able to use the black market to buy the local currency at better exchange rates than they can get officially.
In situations of financial instability and inflation, citizens may substitute a foreign currency for the local currency. The U.S. dollar is viewed as a relatively stable and safe currency and is often used abroad as a second currency. In 2012, $340 billion, roughly 37 percent
of all U.S. currency, was believed to be circulating abroad.
The most recent study of the amount of currency held overseas suggests that only 25 percent of U.S. currency is presently held abroad.
The widespread substitution of U.S. currency for local currency is known as de facto dollarisation
, and has been observed in transition countries such as Cambodia
and in some Latin American countries.
Some countries, such as Ecuador
, abandoned their local currency and now use US dollars, essentially for this reason, a process known as de jure dollarization
. See also the example of the Ghanaian cedi
from the 1970s and 1980s.
If foreign currency is difficult or illegal for local citizens to acquire, they will pay a premium to acquire it. U.S. currency is viewed as a relatively stable store of value and since it does not leave a paper trail,[dubious – discuss]
it is also a convenient medium of exchange for both illegal transactions and for unreported income
both in the U.S and abroad.
More recently cryptocurrencies
such as bitcoin
have been used as medium of exchange in black market transactions. Cryptocurrencies are sometimes favored over centralized currency
due to their anonymous nature and their ability to be traded over the internet.
In the EU, it is not illegal for a person or business to buy fuel in one EU state for their own use in another, but as with other goods the tax will generally be payable by the final customer at the physical place of making the purchase.
In some countries, diesel fuel for agricultural vehicles or domestic use is taxed at a much lower rate than that for other vehicles. This is known as dyed fuel
, because a coloured dye is added so it can be detected if used in other vehicles (e.g. a red dye in the UK, a green dye in Ireland). Nevertheless, the saving is attractive enough to make a black market in agricultural diesel. In 2007 it was estimated that £350 million was not gained in profit as a result of this phenomenon, in the UK.
In countries like India and Nepal, the price of fuel is set by the government, and it is illegal to sell the fuel over the set price. Due to the petrol crisis in Nepal, black marketing in fuel has been a common trend, especially during mass petrol shortage. At times, people need to queue for hours or even sometimes overnight to get the fuel. On the other hand, the petrol pump operators are alleged to hoarding the fuel, and selling it to black marketers. Black marketing in vehicle/cooking fuel became widespread during the 2015 economic blockade
imposed on Nepal. Even after the economic blockade was eased, and petrol imports resumed, people are not getting the fuel as they were supposed to and are resort to buying from the black market.
There are some countries where sex toys are illegal, such as Saudi Arabia, Thailand and India. The illegality has omitted certain clearing processes such as safety testing when they are sold by undercover independent vendors on the black market. Other black market platforms used to sell sex toys on the black market include consumer-to-consumer online auction websites, as well as private pages on social media websites.
In black market venues in Cambodia, sex toys have been seized alongside aphrodisiac products.
Some analysts have argued that if efforts in North America to ban realistic-looking sexbots
succeed, it may result in a black market trade in sexbots.
People engaged in the black market usually run their business hidden under a front
business that is legal.
Often, certain types of illegal products are traded against one another, depending on the geographical location.
Black markets flourish in most countries during wartime
. States that are engaged in total war
or other large-scale, extended wars
often impose restrictions on home use of critical resources that are needed for the war effort, such as food
, etc., typically through rationing
. In most cases, a black market develops to supply rationed goods at exorbitant prices. The rationing
and price controls
enforced in many countries during World War II
encouraged widespread black market activity.
One source of black-market meat under wartime rationing was by farmers declaring fewer domestic animal births to the Ministry of Food
than actually happened. Another in Britain was supplies from the US, intended only for use in US army bases on British land, but leaked into the local native British black market.
For example, in the Parliament of the United Kingdom
on February 17, 1945, members
said that "the whole turkey
production of East Anglia
had gone to the black market" and "prosecutions [for black-marketing] were like trying to stop a leak in a battleship", and it was said that official prices of such foods were set so low that their producers often sold their produce on the black market for higher prices; one such route (seen to operate at the market at Diss
in Norfolk) was to sell live poultry to members of the public, and each purchaser would sign a form promising that he was buying the birds to breed from, and then take them home for eating.
During the Vietnam war
, American soldiers would spend Military Payment Certificates
service and sexual
Also if a Vietnamese civilian wanted something that was hard to get, he would buy it at double the price from one of the soldiers, who had a monthly ration card and thus had access to the military stores.
The transactions ran through the on-base maids to the local populace. Although these activities were illegal, only flagrant or large-scale black-marketeers were prosecuted by the military.
Laws and regulations
A classic example of new regulation creating a black market is the prohibition
of alcohol. Similarly, when the law disappears, so does the black market. Which is why one of the arguments for marijuana legalization is the elimination of the black market and thus taxes from that economy being used by the government.
- ^ A. Horning; et al. (2019). "Risky business: Harlem pimps' work decisions and economic returns". Deviant Behavior 41 (2), 160-185.
- ^ "Internal Revenue Service Summary of Estimation Methods" (PDF). irs.gov.
- ^ Edgar L. Feige (1989). Edgar L.Feige (ed.). The Underground Economies:Tax Evasion and Information Distortion. Cambridge University Press.
- ^ a b c Feige, Edgar L. (2009). "Defining And Estimating Underground And Informal Economies: The New Institutional Economics Approach". World Development. Elsevier. 18 (7): 989–1002. doi:10.1016/0305-750x(90)90081-8. S2CID 7899012.
- ^ Feige, Edgar L. (2012). pp. 239-263. "New Estimates of U.S. Currency Abroad, the Domestic Money Supply and the Unreported Economy"(PDF). Crime, Law and Social Change. 57 (3): 239–263. doi:10.1007/s10611-011-9348-8. S2CID 153877115.
- ^ "Black Money in India | LawJi". LawJi.in : one-stop destination for all law students. Archived from the original on September 18, 2018. Retrieved September 19, 2018.
- ^ a b c d Feige, Edgar L. (2016). "The Meaning and Measurement of Unobserved Economies: What do we really know about the "Shadow Economy"?". Journal of Tax Administration (30/1).
- ^ Feige, Edgar L. & Cebula, Richard (January 2011). "America's Underground Economy: Measuring the Size, Growth and Determinants of Income Tax Evasion in the U.S." Retrieved March 5, 2012.
- ^ Feige, Edgar L. (September 2009). "New estimates of overseas U.S. currency holdings, the Underground economy and the "Tax Gap"". Retrieved March 5, 2012.
- ^ OECD (2002) Measuring the Non-Observed Economy A Handbook, Paris France.
- ^ Feige, Edgar L.; Urban, Ivica (2008). "Measuring underground (unobserved, non-observed, unrecorded) economies in transition countries: Can we trust GDP?". Journal of Comparative Economics. 36 (2): 287–306. CiteSeerX 10.1.1.519.8803. doi:10.1016/j.jce.2008.02.003. S2CID 53489014.
- ^ De Soto, Hernando, The Other Path: The Invisible Revolution in the Third World. Harper and Row, New York, 1989
- ^ Portes, Alejandro; Sassen-Koob, Saskia (1987). "Making it underground: Comparative material on the informal sector in western market economies". American Journal of Sociology. 93 (1): 30–61. doi:10.1086/228705. S2CID 143609999.
- ^ Colin C. Williams (2005). A Commodified World?: Mapping the limits of capitalism. Zed Books. pp. 73–74. ISBN 978-1-84277-355-0. Retrieved March 6, 2012.
- ^ Neuwirth, Robert (August 18, 2011). "Global Bazaar: Street Markets and Shantytowns Forge the World's Urban Future Shantytowns, favelas and jhopadpattis turn out to be places of surprising innovation". Scientific American. 305 (3): 56–63. doi:10.1038/scientificamerican0911-56. PMID 21870444. Retrieved March 5, 2012.
- ^ "Jury orders student to pay $675,000 for illegally downloading music". ABCnews.com. ABC. August 3, 2009. Retrieved May 24, 2018.
- ^ a b Christina Royster-Hemby (April 21, 2004). "Feature: A Baltimore Way of Life". Baltimore City Paper. Archived from the original on February 14, 2012. Retrieved March 5, 2012.
- ^ Lena Edlund & Evelyn Korn (2002). "A Theory of Prostitution" (PDF). 110 (1). Journal of Political Economy. Archived from the original(PDF) on October 5, 2013. Retrieved March 6, 2012.
- ^ Cunningham, S.; Kendall, T. D. (2011). "The Economic Returns to Good Looks and Risky Sex in the Bangladesh Commercial Sex Market". The B.E. Journal of Economic Analysis & Policy. 11. doi:10.1515/1935-1682.3059. S2CID 1230622.
- ^ Holt, Thomas J.; Smirnova, Olga; Chua, Yi-Ting (2016). Data thieves in action : examining the international market for stolen personal information. Palgrave Macmillan. ISBN 978-1-137-58904-0.
- ^ Rossi, Ben (July 8, 2015). "The ripple effect of identity theft: What happens to my data once it's stolen?". Information Age.
- ^ "World Drug Report 2005". United Nations Office on Drugs and Crime. Archived from the original on July 20, 2006. Retrieved March 5, 2012.
- ^ "Illegal logging news". Retrieved September 14, 2014.
- ^ "Illegal logging industry worth almost as much as drug production industry". Archived from the original on July 2, 2013. Retrieved January 30, 2013.
- ^ "Inside the World of Black Market Cheese". vogue.com.
- ^ Murphy, Mary (1994). "Bootlegging Mothers and Drinking Daughters: Gender and Prohibition in Butte Montana". American Quarterly. 46 (2): 174–194. doi:10.2307/2713337. JSTOR 2713337.
- ^ Prohibition (miniseries), Episode 1, "A Nation of Drunkards". Directed by Ken Burns & Lynn Novick. Distributed by PBS.
- ^ Horiwitz, Sari (June 8, 2004). "Cigarette Smuggling Linked to Terrorism". The Washington Post. p. A04. Retrieved March 5, 2012.
- ^ Matthew L. Myers (August 5, 2005). "North Carolina's Cigarette Tax Increase Is A Small Step In The Right Direction But Kids and Taxpayers Will Miss Benefits of Greater Increase". Campaign for Tobacco-Free Kids. Retrieved March 6, 2012.
- ^ "State Sales, Gasoline, Cigarette, and Alcohol Tax Rates by State, 2000–2010". Tax Foundation. April 1, 2010. Retrieved March 6, 2012.
- ^ Scottish Grocers' Federation (February 25, 2009). "Illegal Cigarettes Partnership Must Address All Aspects of Black Market". Archived from the original on June 7, 2012. Retrieved March 5, 2012.
- ^ Jafar, Tazeen H. (2009). "Organ Trafficking: Global Solutions for a Global Problem". American Journal of Kidney Diseases. 54 (6): 1145–57. doi:10.1053/j.ajkd.2009.08.014. PMID 19880230.
- ^ Ambagtsheer, F.; Weimar, W. (2011). "A Criminological Perspective: Why Prohibition of Organ Trade Is Not Effective and How the Declaration of Istanbul Can Move Forward". American Journal of Transplantation. 12 (3): 571–75. doi:10.1111/j.1600-6143.2011.03864.x. PMID 22150956. S2CID 31587917.
- ^ Shimazono, Yosuke (2007). "The State of the International Organ Trade: A Provisional Picture Based on Integration of Available Information". Bulletin of the World Health Organization. 85 (12): 955–62. doi:10.2471/blt.06.039370. PMC 2636295. PMID 18278256.
- ^ "Racketeering". Dictionary.com. Retrieved June 29, 2012.
- ^ David Witwer, "'The Most Racketeer-Ridden Union in America': The Problem of Corruption in the Teamsters Union During the 1930s", in Kreike, Emmanuel, Ed.; Jordan, William Chester, Ed. (2004). Corrupt histories. Rochester, New York: University of Rochester Press. ISBN 978-1-58046-173-3.
- ^ Tracking down England's council house sublet cheats, Panorama, BBC, May 4, 2011
- ^ 'Egalitarian' Stockholm rents feed black market, The Local, August 30, 2010
- ^ "Hyrestvåan är din för 300 000" (in Swedish, "The rental one-bedroom [apartment] is yours for 300 000 [SEK]"), Svenska Dagbladet, May 5, 2013
- ^ Charles W. Moore (August 8, 2003). "Is music piracy stealing?". Archived from the original on April 1, 2012. Retrieved March 6, 2012.
- ^ "Documentary Filmmaker Supports BitTorrent Uploader". TorrentFreak. May 14, 2009. Retrieved March 5, 2012.
- ^ Verkaik, Robert (July 8, 2009). "Illegal downloading: What happens if you're caught?". The Independent. London. Retrieved March 5, 2012.
- ^ Cory Doctorow (November 13, 2009). "Labels may be losing money, but artists are making more than ever". Retrieved March 5, 2012.
- ^ Oriana Zill & Lowell Bergman. "Drug Wars: Special Reports: The Black Peso Money Laudering System". PBS Frontline. Retrieved March 6, 2012.
- ^ Feige, Edgar L. (April 2012). "New Estimates of U.S. Currency Abroad, the Underground Economy, and the "Tax Gap"". Crime, Law and Social Change. doi:10.1007/s10611-011-9348-8. S2CID 153877115. Retrieved March 17, 2014.
- ^ "Federal Reserve Flow of Funds Z.1 Table 204". U.S. Federal Reserve. December 8, 2011. Retrieved March 5, 2012.
- ^ Feige, Edgar L. (February 2, 2012). "The myth of the "cashless society": How much of America's currency is overseas?". Retrieved September 14, 2014.
- ^ Edgar L. Feige, "Dynamics of Currency Substitution, Asset Substitution and De facto Dollarisation and Euroisation in Transition Countries", Comparative Economic Studies, September 2003, Vol. 45 #3 pp. 358–83.
- ^ E. L. Feige et al. "Unofficial Dollarization in Latin America: Currency Substitution, Network Externalities and Irreversibility", in Dean, Salvatore and Willett (eds.) The Dollarization Debate, Oxford Press, 2003.
- ^ Feige, Edgar L. & Cebula, Richard (January 2011). "America's Underground Economy: Measuring the Size, Growth and Determinants of Income Tax Evasion in the U.S." Retrieved March 5, 2012.
- ^ "Follow The Bitcoin: How We Got Busted Buying Drugs On Silk Road's Black Market".
- ^ Tom Peterkin (January 31, 2006). "IRA fuel smuggling 'drove oil giants to abandon Ulster'". The Daily Telegraph. London. Archived from the original on May 1, 2011. Retrieved March 6, 2012.
- ^ "Fuel smuggling down say customs". Belfast: BBC. May 3, 2001. Retrieved March 6, 2012.
- ^ "Red diesel abuse costs UK millions". What Car?. Haymarket Group. November 7, 2007. Retrieved March 6, 2012.
- ^ "The fight to legalise sex toys in Thailand". April 5, 2019.
- ^ "Meeting a Dildo Dealer in Cambodia, Where Sex Toys Are Illegal". October 6, 2015.
- ^ Klein, Wilhelm EJ, and Vivian Wenli Lin. "Sex robots revisited: A reply to the campaign against sex robots." ACM SIGCAS Computers and Society 47.4 (2018): 107-121
- ^ "Organized Crime: The World's Largest Social Network". WIRED. 19 (2). January 31, 2011. Retrieved September 14, 2014.
- ^ The Home Front (facsimile ed.). London: Imperial War Museum. July 1945. ISBN 978-1-904897-11-8.
- ^ The Daily Telegraph February 17, 1945, reprinted on page 30 The Daily Telegraph February 17, 2015
- Breusch, Trevor. "Estimating the Underground Economy using MIMIC Models" (PDF). Ideas.repec. Archived from the original (PDF) on May 1, 2011. Retrieved March 25, 2011.
- Cebula, R (2014). "Where Has the Currency Gone? And Why? The Underground Economy and Personal Income Tax Evasion in the US, 1970-2008" (PDF). Review of Economic Analysis, Rimini Centre for Economic Analysis. 6 (1): 36–52.
- Feige, Edgar L. (1989). The Underground Economies: Tax Evasion and Information Distortion. Cambridge: Cambridge University Press. p. 378. ISBN 978-0-521-26230-9.
- Feige, Edgar L. (2009). "Defining And Estimating Underground And Informal Economies: The New Institutional Economics Approach". World Development. Elsevier. 18 (7): 989–1002. doi:10.1016/0305-750x(90)90081-8. S2CID 7899012.
- Schneider, Friedrich; Enste, Dominik H. (2000). "Shadow Economies: Size, Causes, and Consequences". Journal of Economic Literature. 38 (1): 77–114. CiteSeerX 10.1.1.716.8484. doi:10.1257/jel.38.1.77. JSTOR 2565360.
- Frey, B. S., and Schneider, F. (2015). Informal and Underground Economics. In: James D. Wright (ed.), International Encyclopedia of the Social and Behavioral Sciences, 2nd edition, Vol. 12. Oxford: Elsevier, pp. 50–55.
- Feige, Edgar L (2016). "Reflections on the meaning and measurement of Unobserved Economies: What do we really know about the "Shadow Economy"?". Journal of Tax Administration Vol. 2 (1). SSRN 2728060.
- Feige, Edgar L. (2016). "Professor Schneider's Shadow Economy: What do we really Know? A Rejoinder". Journal of Tax Administration. 2 (2).
- Roodhouse, Mark (2013). Black Market Britain: 1939–1955. Oxford: Oxford University Press. doi:10.1093/acprof:oso/9780199588459.001.0001. ISBN 9780199588459.
Last edited on 6 May 2021, at 05:55
Content is available under CC BY-SA 3.0
unless otherwise noted.