Black markets are a consequence of prohibited markets, not free markets—so you cannot have free markets and black markets simultaneously; thus Russia's pervasive black markets in the 1990s indicate prohibition, not excessive marketization.
causalpending
Speaker
Peter BoettkeEvidence Quote
“black markets are a consequence of prohibited markets that that's how they come about so it's not the case that they move too quickly to markets”
Created: 6/17/2026, 10:29:22 AM
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