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Black markets vs. free markets

Friday, 20 November 2009 by Mike Gogulski
economics, philosophy | 7 Comments »

On a private mailing list, someone asked: Aren't Black Markets and Free Markets mutually Exclusive? Free markets don't exist in any real sense anywhere today. State prohibitions, subsidies, taxes, regulation, privilege and the rest make them impossible on any substantial scale. "Black market" ...
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