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A black market in Shinbashi in 1946. Illegal street traders in Barcelona in 2015. A black market, underground economy, or shadow economy is a clandestine market or series of transactions that has some aspect of illegality or is not compliant with an institutional set of rules. If the rule defines the set of goods and services whose production ...
Informal economy: Haircut on a sidewalk in Vietnam. An informal economy (informal sector or grey economy) [1][2] is the part of any economy that is neither taxed nor monitored by any form of government. Although the informal sector makes up a significant portion of the economies in developing countries, it is sometimes stigmatized as ...
0-618-33466-1. Reefer Madness: Sex, Drugs, and Cheap Labor in the American Black Market is a book written by Eric Schlosser and published in 2003. The book is a look at the three pillars of the underground economy of the United States, estimated by Schlosser to be ten percent of U.S. GDP: marijuana, migrant labor, and pornography.
The United States', however, remained the world's largest economy with the highest nominal GDP. [138] Real GDP per capita (measured in 2009 dollars) was $52,444 in 2017 and has been growing each year since 2010.
Coal mining is an industry in transition in the United States. Production in 2019 was down 40% from the peak production of 1,171.8 million short tons (1,063 million metric tons) in 2008. Employment of 43,000 coal miners is down from a peak of 883,000 in 1923. [ 1 ] Generation of electricity is the largest user of coal, being used to produce 50% ...
The second economy of the Soviet Union was the black market or the informal sector of the economy of the Soviet Union. The term was suggested by Gregory Grossman in his seminal article, "The Second Economy of the USSR" (1977). [1] Economist Gerard Roland noted that as Grossman anticipated, "the logic of the second economy tended over time to ...
The Household Electricity Approach to measuring the size of the underground economy or black market of a country exploits the presumed relationship between household electrical consumption and a country's GDP. It assumes that undeclared economic activity still needs to use resources, such as electricity, to function.
Commercial crude oil stock pile. The Strategic Petroleum Reserve (SPR) is an emergency stockpile of petroleum maintained by the United States Department of Energy (DOE). It is the largest publicly known emergency supply in the world; its underground tanks in Louisiana and Texas have capacity for 714 million barrels (113,500,000 m 3). [1]