White market: Difference between revisions

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The '''white market''', in [[Libertarianism|libertarian]] economic theory, is the legal and official, authorised,market for goods and services. It is distinct from the [[black market]] of illegally trafficked goods and the [[gray market]], in which commodities are distributed through channels which, while legal, are unofficial, unauthorized, or unintended by the original manufacturer. It is also sometimes distinguished from the [[pink market]] of state-sanctioned, but immoral activities, such as [[wars of aggression]], and the [[red market]] of immoral activities banned by the state. The white market in some goods, such as [[adoption]] of children, has been criticized as being inefficient due to government regulation.<ref>{{citation|title=Stork Markets: An Analysis of Baby-selling|url=https://www.mises.org/journals/jls/4_2/4_2_5.pdf|author=LA Alexander, LH O'Driscoll|publisher=The journal of libertarian studies|date=1980}}</ref> The [[New Libertarian Manifesto]] states:<ref>{{citation|url=http://www.agorism.info/NewLibertarianManifesto.pdf|title=New Libertarian Manifesto}}</ref>
{{cquote|In the [[social-democrat]] countries, the black market is smaller because the 'white market' of legally accepted market transactions is larger, but the former is still quite prominent...Furthermore, even large businesses today could go partially counter-economic, leaving a portion in the "white market" to satisfy government agents and pay some modicum of taxes and report a token number of workers. The rest of the business would (and already often does) expand off the books with independent contractors who supply, service, and distribute the finished product. Nobody, no business, no worker, and no entrepreneur need be white market.}}