Black Market Argumentative Essay
One of the biggest shadows covering the world, that not many people pay attention to, is an economy that millions of people work on knowingly or unknowingly. This economy has been around for hundreds of years and is starting to grow exponentially right under the noses of every country. It is well known for its criminal nature, but is that the entirety of it? Black Markets certainly have an impact on the Global Economy that so many people work in everyday. While talking about economics can be rather boring, there is more to it than the flow of money. Black Markets fall under the Informal Economy which is very eye opening and exciting if given the correct facts. Black Markets are not primarily used for criminal gain, rather to help those less
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First off, in order to understand economic success and growth, people need to understand the concept of Gross Domestic Product (GDP). GDP is simply the measure of a monetary value of goods moving in and out of a country, and often indicates economic activity. In Thailand 45.6% of the GDP comes from Black Markets, and in Cambodia, around 80% (Wang and Kusakabe). In wealthier countries the numbers (GDP) tend to lean around 10-15% (Koba). In the U.S. Black Markets amount to around 8% of the yearly GDP (Koba). With numbers like those people can easily see that there is a major economic advantage in not only third world countries, but also first world countries.
The advantages, not only for the Global Economy, but also for everyday people, are endless and certainly helping to make a positive difference. The way in which individuals view Black Markets is often distorted. Due to their mysterious nature people really have to do their homework to understand them and how they work. Understanding how these Black Markets work can be eye opening; helping individuals to understand the world around them. The two economic systems work hand in hand every day, bringing stability to the Global Economy. The view point from which people see Black Markets make all the
First off, in order to understand economic success and growth, people need to understand the concept of Gross Domestic Product (GDP). GDP is simply the measure of a monetary value of goods moving in and out of a country, and often indicates economic activity. In Thailand 45.6% of the GDP comes from Black Markets, and in Cambodia, around 80% (Wang and Kusakabe). In wealthier countries the numbers (GDP) tend to lean around 10-15% (Koba). In the U.S. Black Markets amount to around 8% of the yearly GDP (Koba). With numbers like those people can easily see that there is a major economic advantage in not only third world countries, but also first world countries.
The advantages, not only for the Global Economy, but also for everyday people, are endless and certainly helping to make a positive difference. The way in which individuals view Black Markets is often distorted. Due to their mysterious nature people really have to do their homework to understand them and how they work. Understanding how these Black Markets work can be eye opening; helping individuals to understand the world around them. The two economic systems work hand in hand every day, bringing stability to the Global Economy. The view point from which people see Black Markets make all the