The "Black" Market is Saving the Day
The term "black market" is like the term "assault weapon." Both terms have been created by those who want to control the behavior of others by instilling fear. "Black" markets don't exist, there is just the market. What is commonly referred to as the "black" market of "underground" economy is all market activity that occurs without the state's blessing. These segments of the market may also be the only thing keeping the entire economy from collapsing completely:
The shadow economy is a system composed of those who can't find a full-time or regular job. Workers turn to anything that pays them under the table, with no income reported and no taxes paid — especially with an uneven job picture.
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Shadow economies are usually associated with illegal activity, such as drug dealing. But anecdotal evidence indicates that off-the-books work in today's job market includes personal and domestic workers, such as housekeepers and nannies.
"The jobs are in service industries from small food establishments to landscaping." said David Fiorenza, an economy professor at Villanova University. "Even the arts and culture industry is not immune to working off the books in areas of music and entertainment."
It also includes firms that hire hourly or day construction labor, information technology specialists and Web designers. Many who have a job that doesn't pay enough take another one that pays under the table.
Were it not for the "underground" economy, in other words if everybody was obeying the law, the effects of unemployment in this country would likely be far more noticeable. We're lucky that both employers and employees are willing to ignore the law because doing so helps ensure many people continue to have an income and therefore are able to eat and shelter themselves. This uptick in "illegal" employment also demonstrates how negatively state regulations affect the economy. Many people are able to gain employment when state regulations, especially in regards to labor, are thrown out the door. It is only when employers obey the state's regulations that unemployment becomes a massive issue.
From an agorist's point of view the uptick in the "underground" economy is also good news because every time paid "illegal" is untaxed and therefore withholds wealth from the state's sticky fingers. The less wealth the state is able to steal the less resources it has to enforce labor laws, which will help the "underground" economy flourish and further starve the state.