BEGINNER

Black Markets

Black markets arise when governments set restrictions on what goods and services individuals may purchase. Provision of these goods and services are taken over by persons willing to violate the law. Because of the artificial scarcity created by government policy, these parties face much less competition than they would in a free market and can therefore charge higher prices to consumers. Due to the illegal nature of operations in the black market, producers and distributors may take aggressive measures to defend their work against intrusion.

 

The Cost of the War on Drugs

 

Steve Horwitz - Regulation and Intervention

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April 2014

Around the world, people are struggling to throw off authoritarianism, with deeply mixed results. From Egypt to Venezuela, determined people build networks to overthrow their regimes, but as yet we have not learned to live without Leviathan. In this issue, Michael Malice and Gary Dudney discuss their glimpses inside totalitarian regimes, while Sarah Skwire and Michael Nolan look at how totalitarian regimes grind down the individual--and how individuals fight back. Plus, Jeffrey Tucker identifies a strain in libertarianism that, left unchecked, could reduce even our vibrant movement to something that is analogous to the grim aesthetic of architectural brutalism. The struggle for our lives and freedom is a struggle for beauty; it begins inside each of us.
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