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Black market and money laundering





baboosaa
Regarding black market , I remember one thing - While i was watching a program called INSIDE - it said that total money and power of black market of world is equal to our legal economy. then i thought what is really driving our economy, i mean if we all of a sudden cut away that black part then will our economy remain same ? will our lives be same?
While talking about black market we cannot leave MONEY LAUNDERING. Because it is only by this process that black money becomes white one(use able). And who uses this process - only those who already have a lot of money and all the legal ninjas who can manipulate the law.
Now who are the victims. Victims are people like you and us who work and earn our living. Economic crisis Financial crisis ,Inflation are always somehow related to this black market.and the worst part is it makes the poor countries more poor and creates division , hatred in the place we call our world, our home.
ocalhoun
The black market is only black because the various governments try to ban things.
If the government bans fewer things, then those things can be bought on the 'white' market, and the size of the black market will decrease.
If the government grows more authoritarian and bans more things, those things will continue to be bought and sold, increasing the size of the black market.

You could institute a horrific campaign to punish the black market... Or you could reduce it much more easily by un-banning the products bought and sold on it, instead regulating and possibly taxing them.
(Though if regulation and taxation of these products becomes too severe, the black market will again flourish.)
standready
ocalhoun wrote:
You could institute a horrific campaign to punish the black market... Or you could reduce it much more easily by un-banning the products bought and sold on it, instead regulating and possibly taxing them.

Government has enough money to [self-edited] already!
c'tair
As long as the government keeps a monopoly on what's "good" and "bad" for citizens ie. proclaiming that drugs are evil and should be illegal while alcohol and nicotine is good and should be freely available to people, then we will have a black market.

Sometimes, the black market is the only way to get somethings. The government cannot have a monopoly on morality.
hunnyhiteshseth
Black money isn't only related to banned things. Money given as a bribe will be black money and I don't think legalizing bribe will be a good idea!
Spatulax9
Have to agree hunnyhiteshset. Its fashionable these days to claim that the nanny state is at the root of all evil. The black market is about exploitation. There is still a thriving slave trade, that creates plenty of black money. The slaves are mostly women and girls and I'm sure you can guess what happens to them. I don't agree with every law, but somethings should be illegal even if their illegality creates a black market.
pll
If we don't keep in mind stolen stuff, drugs and weapons for sale in black markets, I don't think it's worth the benefit and I don't ear about so much people doing those kind of things.

Maybe it's just in my country but I hope it's everywhere like that.

I know that the problem is there but it just doesn't touch me... and I hope it never will.
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