The Black Market

The black market refers to the underground economy which can be seen in many countries around the world. The black market is not a place but a system, like a huge network where goods ranging from LCD TV's to heroin can be sold tax free at very low prices. Not just goods but sometimes people as well as animals are sold.

Illegal traders all around the world use the black market to sell their goods,But some people use it just to buy goods at cheap prices. With the rise of prices all around the world people tend to use these illegal ways of buying or selling goods to save money. Which is kinda acceptable. People don't have much money with them, the government wont take off the taxes, so naturally people use illegal methods to buy goods. For example the tax on cigarettes and alcohol are very high, therefore people tend to smuggle them in to the country, and sell it at the same price as the normal shops(sometimes slightly lower to increase the demand) and earn a huge profit. So to stop the smuggling the taxes should be reduced, but then another problem arises, the cigarettes and alcohol will we freely available to anyone due to its low price, which may cause social issues.











































But the government doesn't take off the taxes because they cant afford to lose all the money that they get from it, and not because they care about the people.

Not just alcohol but stuff like weapons and drugs can also be brought in to the country through black market vendors.

But there is also a good side to it. As I mentioned earlier people use the black market get goods at cheaper prices.Other than drugs and alcohol the next best selling items on the black market are counterfeit DVD's and CD's. Hundreds of movies and music are copyrighted every year and sold to buyers at a very cheap price. Which might be a bit unfair for the studios and production houses but is reasonable for the people at a time like this. Although a lot of people say that billions of dollars are lost every year due to copyright infringement Hollywood and its Indian counterpart Bollywood have been able to stay afloat without any problem. The reason for this is the people who sell fake DVD's and music are also the highest buyers of the original product.

















And how can we forget the counterfeit goods. Almost every brand in the world has a fake counterpart. Not just one but many. From football t-shirts to perfumes, everything is counterfeited. Although these goods are cheaper than the originals they might not have the same quality. There are some exceptions though. From recent times the counterfeit products have improved in quality and still remained at the same price. But nothing beats the original.

The Black market economy has it's ups and downs but I like it being there. The way I see it without the black market economy no one can survive. Specially the ministers of our country ;)