Wages of Crime: Black Markets, Illegal Finance and the Underworld Economy

@inproceedings{Naylor2002WagesOC,
  title={Wages of Crime: Black Markets, Illegal Finance and the Underworld Economy},
  author={R. Naylor},
  year={2002}
}
"Never in history has there been a black market tamed from the supply side. From Prohibition to prostitution, from gambling to recreational drugs, the story is the same. Supply-side controls act to encourage production and increase profits. At best a few intermediaries get knocked out of business. But as long as demand persists, the market is served more or less as before. In the meantime, failure to 'win the war' [against crime] becomes a pretext for increasing police budgets, expanding law… Expand
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