May 2016

What is an underground economy?

Whether you call it a black market, a grey market, or just the shop down the street, its about connecting people with goods outside of official channels. Some stuff happens in the underground economy because it’s illegal, but a lot of the money that moves around this way is exchanged for pretty mundane goods and services.

We’ll talk about how these things work, and the awesome ways that economists figure out where all that money is.