The fact that the shadow economy, or the black market or underground economy, is on the rise in the middle of a global financial crisis should be no surprise to economists.
A recent post on Steven Levitt and Stephen Dubner’s Freakonomics blogdiscussed the growth of the shadow economy across the world. The post claims that the shadow economy is the second largest in the world!
It is expected that over 10 trillion dollars circulate through the black market, which can be found anywhere from flea markets, roadside farm stands, swap meets and even the darkest allies around town. If governments around the World don’t do anything soon the black market might even become the world’s strongest economy soon!