![]() ![]() These underground economies are omnipresent, existing in market oriented as well as in centrally planned nations, be they developed or developing. There is no single underground economy, there are many. ![]() This profusion of vague labels attests to the confusion of a literature attempting to explore a largely un-chartered area of economic activity. Kharkov, 2008 subterranean hidden grey shadow informal clandestine illegal unobserved unreported unrecorded second parallel and black. Worldwide, the underground economy is estimated to provide 1.8 billion jobs.īackground The literature on the underground economy has avoided a common usage and has instead offered a plethora of appellations including: Black market on graffiti. Although markets in the regular economy are not given a "white" attribute, markets that have borderline status are called "grey". "the black market in bush meat" or the state jurisdiction "the black market in China". 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. References Article Sources and Contributorsīlack market A 'black market' is a market in goods or services which operates outside the formal one(s) supported by established state power. PDF generated using the open source mwlib toolkit. ![]()
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