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Black Markets: A Case Study in the Ethics of Counter-Economics

it has long been a strolling comic story that someone who can pay $20.00 for a gram of marijuana is new to the marketplace; but does an analysis of this phenomenon, as well as other observations approximately marketplace forces at play suggest a few conclusions about the illegitimacy of statist claims about the black marketplace? why is $20.00 for a gram this sort of laughable rate for a substance that is federally—and regularly regionally—prohibited? the short solution is that whilst this substance and its distribution exist within the black marketplace, also known as underneath state prohibition, it does now not exist in red market: the set of transactions that is each kingdom-prohibited and immoral. the kingdom would love to have humans trust that these  markets are vague: they would like the population to agree with that some thing they restrict should additionally be immoral because it changed into prohibited by means of a valid entity (themselves). the marketplace for marijuana—this article will consciousness on the louisville marketplace (wherein it's far still locally banned)—famous characteristics that weaken this argument, even though. for a substance that supposedly has no morally justified medical or recreational use, the underground marketplace for weed positive does show off standard phenomenon associated with loose marketplace incentives.
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