Black Market Economics - What Drives the Underground Economy?

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Information Black Market Economics - What Drives the Underground Economy?

Title	:	Black Market Economics - What Drives the Underground Economy?
Lasting	:	16.28
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Views	:	735 rb

The Kardishev scale is nonsense
Comment from : @boredfangerrude8759

oh yes I can believe thati I'm actually a living testimony of Automate just that I I'm sad because I invested so low because of fear
Comment from : @WilliamPhillips-w6c

Repent and believe the Gospel
Comment from : @justinbennett1937

1:32 Bro Just Fart 😂brListening at the gym …almost hurt myself dropping the weight 😂😂😂
Comment from : @odedbalisha9666

No exp or degree req No age or visa restrictions No taxes!
Comment from : @ViceCoin

Man, if I could go back to college, I'd LOVE to become an economist This field of study is just too interesting, and you basically analyze numbers that lead you to the conclusion that humans are insane
Comment from : @heavywater6350

corrupt leaders also doing this
Comment from : @LoneWolfCodingProfessional

Only ones who exploit people is goverment
Comment from : @ignasrackus8543

When he said kidneys China felt that😂
Comment from : @anv_bis7287

Oh no!! That 9-year olds lemonade stand is going untaxed! 😡
Comment from : @UwaomaNechi

Counterfeit makeup and other cosmetics are actually a big problem for consumers so there is some good regulation from intellectual property rights
Comment from : @anthonyhelms3917

13:39 this statement is an absurd! These people that are subjecting themselves to this conditions would be otherwise unemployed most of the time, because if they could find a job that paid more they would simply go for it!You are saying that these poor people should not work so formal workers could earn more! In fact, Mussolini instated a minimum wage law so black people, that were poorer in Italy due to them having got out of slavery not só long before him, wouldn't find a job! THIS IS ABSURD!!!
Comment from : @enzonavarro8550

EVERYTHING WRONG WITH THIS VIDEOSTAY TUNED TO FACEBOOK
Comment from : @spymaine89

I had a friend who was paid under the table, except he didnt realize it at the time (he was young and didnt know all the detaiks of w2's and such) The company he worked for had him basically listed as a contractor, when he was most certainly an employee It made a big difference when he had an accident at work that resulted in huge medical bills Contractors keep their own medical insurance, employees are insured (at work) by their employer, which means their trying to save on taxes meant he was on the hook for his uninsured medical bills (much less time lost, suffering, etc etc)brbrHe had to call the state labor board and a whole bunch of stuff, and I dont think he ever got his bills fully paid forbrbrEven middle class workers can be absolutely screwed by participating (in this case unknowingly) in a black market Sometimes its important to remember why governments involved in some of these things, and be aware of the additional risk
Comment from : @JD-ub5ic

2:44 not only CAN you pay taxes on illegal activities, you are legally obligated to do so And it would be wise if you are in that industry I am speaking for the US, but here, you can even deduct supply costs of a drug dealing operation under your COGS
Comment from : @OriginalDonutposse

the video was great!!! I had a question tho, isnt that whole "invention needs profits" is kinda bullshit , why would people have to pay for insulin if its needed for life? Also the research for such medicals are mostly paid by the government so theres no need for those "profits" Lets even take technology , the internet & fusion research is/was heavily influenced by the money of governments So how exactly is profits needed for invention? Sure it could help maybee for invention but im even critical of that brbrThe black market economics and descriptions were really great tho !! :D
Comment from : @stwlord5119

Nowadays it is generally considered more socially correct to refer to them as "markets of color" rather than the outdated and slightly racist term "black markets"
Comment from : @addisondraper6444

It is unsurprising to learn that economists are absolutely terrible at understanding and estimating the extent of the black market economies Anthropologists have had slightly more success in identifying and explaining black markets I did think this was a really good video though (I am a huge fan of all your other videos as well Thank you for making them) There is by the way much more to the story of black markets including many benefits to certain communities and often these markets serve to support social infrastructure that would not be served by the government
Comment from : @addisondraper6444

14:02 I got a cyber security themed ad right here 😂
Comment from : @nersharific813

9:53 is why the minimum wage should be abolished
Comment from : @mariolis

kudos to the person who found the footage of the toilet paper bandit
Comment from : @roxanneconner7185

The Black Market is the economic system called Laissez-faire Simple
Comment from : @kreamnetwork9406

Here in 2022 from Canada and would LOVE to have gas at $1 per litre
Comment from : @jonathonkruis7340

honestly I think this is important for economist to know and understand it explains grey markets and taxation philosophy and how the market interacts with regulatory control it also highlights good and bad economic policies wish I learned this when I was younger
Comment from : @fuge74

What does Western Sydney University teach its economy students…😂 you should be given an honorary doctorate from them lol…Kanye West has a few of those…
Comment from : @WoolleyWoolf

All the talk about "innovation" in the counterfeit items section irks mebrbrYou cannot use innovation to describe what the fashion industry is doing They sell illusions, social pressure, and manufactured demand brThe latest Gucci handbag doesn't have a pocket dimension to store extra things, nor bulletproof lining, nor is it made of especially strong materials In fact its usually likely to be worse in all of these areas than a cheap competitor ITs price is almost entirely from nametags and brandingbrbrDesigner/luxury clothes like this make up the majority of counterfeit goods, don't they? I don't see the harm in this, if anything its a public good Undercutting and directly harming a corporation that makes its money by preying on mental weakness
Comment from : @Nanakoglasgow

Fun Fact: You very much CAN and MUST pay taxes on illegal activities The IRS even has a form for it Ask Al Capone about that one
Comment from : @TechDeals

Can you make economics video about eg love for Valentine's
Comment from : @bry120

I've got a mistake: You say court in the narrative and video shows a US Post Office!
Comment from : @sethpayment

11:25 Impacts on government revenue? That's a falacybrIf A buys from B without paying tax, doesn't mean that money won't be taxed B still gotta eat, and has other expenses who are most likely taxed, so if anything it reduces a bit of the taxation footprint on the economy as a whole
Comment from : @estevesazeiteiro

I'm still waiting for the tracking number for those kangaroos you sent me
Comment from : @uniquehorn1480

At 3:37 my state is shown Gujarat India Language: Gujarati
Comment from : @Tejassuthar777

can you really confidently state that nobody ever OD´d on fake yeezys?
Comment from : @HoaxManTheOne

It's not a litaah!!!! Liter!!! What's with the exaggerated English accents??? It's supposed to sound more intellectual therefore true news!!!! Actually the writers use the word "actually" demasiado!!!
Comment from : @vincentanguoni8938

No no no It's not illegal items that make up the majority of the off the record market This is more bs by people who don't have any idea what is actually going on It's when I hire a Carpenter or plumber or accountant and pay cash It's when we go into a family restaurant and pay cash Always pay cash unless you are at a mom and pop biz Always No credit cards
Comment from : @vincentanguoni8938

This is Mexico's true problem 56 of the workforce are in the informal marketbrA couple thousand narcos killing each other is a nuisance, 40 million people not paying taxes and instead contributing to government corruption is why our social services are constantly collapsing, education is an afterthought and there's zero government investment in anything but white elephants
Comment from : @Stroggoii

Love the indian tobaco seller Selling the "bidi" to the people
Comment from : @Roy-gd1

how does this video not have millions of view? best financial not-advice yet!!!! I think I'm gonna open ahhhh "lemonade stand"!!!!
Comment from : @sthomasfreebourn3207

Yes thank you patrions I can’t afford to help this Chanel out financially but I do subscribe and give EVERY video I watch a like so that others can see it I’ve been following this channel for a year now and I’ve fact checked loads of things they have been saying and it aaaaalll checks out I am from south Texas USA And I thoroughly enjoy the accuracy of this channel Keep it going fellas and sorry I can’t contribute Economists explained is the best!!!!!!!
Comment from : @paultowns

Ah yes, the petrol price ceiling Good stuffbrHi, from Mid-Europe
Comment from : @unnf9971

In the old communist economies of eastern Europe, black markets in goods and labor were very significant in actually keeping those societies functioning
Comment from : @earlystrings1

Does any type of "buy low/sell high" transaction result in deadweight loss? Whats the difference between deadweight loss and filling a business gap in the market?
Comment from : @Destamoon

Cheeky fart @1:31
Comment from : @BubblesBLEACH

Yes, that was a fart noise at 1:31
Comment from : @bdeas

Lol
Comment from : @starstudio8402

Remember a black market is only a term for a market that the government is unable to see, kept in the dark from
Comment from : @yitivitzen5239

The husky modem feasibly cry because football moberly retire sans a wholesale moat handsome, lackadaisical feast
Comment from : @chrisstarks444

If economists don't like the black market, they should stop getting in the way of people buying what they want, smhbrbrI mean, except for those illegal kidneys, but maybe just make the harvesting a crime to begin with oo
Comment from : @nightlight0x07cc

My lovely city of Geneva :) 5:21
Comment from : @untitled795

11:26 good #taxationIsTheft
Comment from : @CarterColeisInfamous

Nice sneaky there on Wendover, lol I watched that video originally and didn't actually know you had a video on it too and when I saw it I thought you ripped him off I used to watch him a ton 3 years ago and slowly I've watched him less, especially his newer videos they don't feel as good :/
Comment from : @DarthMakroth

The issue with taxing people on income becomes clear when you view it through the lens of the black market Technically everything that you do that adds value should be taxed according to my state's tax code, not to mention the various permits I would need to actually, say, repair my own house
Comment from : @peteranon8455

Government thinks they control us lol stick it to the man
Comment from : @jamesedwards1528

similar to playstation 5 and scalpers
Comment from : @russellwilliams9437

Dark markets are a measure of a given regimes' ability to tolerate the demands of it's subjects The darker and deeper there former the poorer the latter
Comment from : @TIm_Bugge

40 emubux for a pack of cigarettes? How have australians not thrown their politicians down a well?
Comment from : @boogerthief3547

$4000 for cigarettes!!!! I'd that USD
Comment from : @tylerferrand8786

In other words, everything happening at 09:53 is what’s happening to graphics cards right now
Comment from : @DeliciousManX

So after what you said about black markets - is illegal labor a sign of a higher demand for labor than can be met or is there a too high suppy of labor? And what could governments do about it?
Comment from : @sedisvacantia8581

So ps5 scalpers are a black market?
Comment from : @Ratwagonz

In the US you can pay taxes on them You're supposed to otherwise it's tax evasion So please file your taxes Lol
Comment from : @victorespino5650

If you look at the black market as an exchange between two person that doesn't envolve the government If we don't take criminal exchanges into consideration I think corruption (overpriced projects, unnecessary developments etc) and massive military budgets cause more harm to people than black market does
Comment from : @davids8127

There is nothing innovative about a ugly, 500 dollar Gucci bag
Comment from : @Crazy-stew1548

Making it illegal for children to work, leads to lazy adults that do not clean their own homes, because their parents were not allowed to make them clean their own rooms
Comment from : @YouAskedForThis563

The mandatory minimum wage leads to automation and unemployment
Comment from : @YouAskedForThis563

High taxes that’s what keeps it alive
Comment from : @retrogametech1626

The counterfeit Lego market is worth millions alone
Comment from : @Jasonwolf1495

corrupt governments that’s what
Comment from : @envynemo4170

I could have gone without knowing that a supreme brick existed I'm no surprised it's just my disappointment is immeasurable, and my day is ruined
Comment from : @reinekaelamakemedokidoki7206

The one I hate the most: the black market of GPUbrbror, the market of GPU, cause the whole GPU market is black Manufacturers are scalping themselves for higher prices and profits lol
Comment from : @patrickH206

I don't know how the Aussie tax authorities are but in the US the IRS provides detailed instructions on how to pay taxes on illegal earnings Do y'all not have protection against self-incrimination down there?
Comment from : @hubris252

"Unregistered work with cash in hand" is called "Grey Market" in Europe Probably to make the distinction that the work itself was not illegal but dodging the taxes was
Comment from : @Meitti

Gr8
Comment from : @alcuinai

“How to make profit” bad plays/b
Comment from : @Pokemaster-wg9gx

2:29 the consequence of dealing on the black market: electrocution in a transformer station pretty overkill
Comment from : @theonlySTABEL

Scalping is a form of a black market?
Comment from : @independentconfederate6604

How do you buy things on the black market? I'm tryna get a PS5 😉😉😉
Comment from : @YouTubedeletedmycomment

When you make your way into the black market for off brand lego
Comment from : @Danger-sp6mk

Corporate America and the federal government
Comment from : @craigweaver8542

If not for cash side work I'd be pressed to make bills some months back in the day Taxes are theft
Comment from : @patrickdurham8393

Without the Prohibition, there is no black market at all
Comment from : @got2kittys

What Drives the Underground Economy?brbrTaxes and Tarifs
Comment from : @navarone4031

Many governments would like to have the monopoly of Innvation But on their hands not good I guess, say China's copycats
Comment from : @EduardoBicelisGarcia

What could be the definition to a market when consumers doesn't have say even if it is potentially harmful for them
Comment from : @EduardoBicelisGarcia