An economic activity that occurs outside of officially recognized channels is known as a black market. Market participants conduct illegal transactions “under the table” to get around price regulations or levies imposed by the government. The products and services sold on the black market are often in high demand. Generally speaking, the extent of economic activity that occurs through the black market can be expected to be higher the more the government attempts to manage and control the economy. Some black markets are well known but there are those who many people don’t know exist. Here are five of these.
The Hormel Company began to manufacture Spam from 1939 . Spam has become increasingly popular over the years and now sells millions of cans yearly. With Spam being widely available, why did it make this list? Spam is quite popular in Hawaii. In fact it was a local delicacy there. In 2017, Hawaii’s demand for Spam became so great that businesses had to deal with a wave of thefts and a burgeoning illicit market for the meat. Thieves were stealing it in bulk from stores, and it was being resold on the black market and from the trunks of cars to make money quickly.
2. Oltermanni Cheese
Cheese of various kinds is well liked and is used in a variety of dishes. There is a major black market for cheese in Russia. The most popular commodity being traded illegally in Russia is a cheese from Finland called Oltermanni. This was brought about by the travel restriction in Europe during Covid-19. In Finland, a kilogram of this cheese costs five Euros but it is four times more in Russia. The trucks from Russia that have been bringing the cheese across the border have been under surveillance by customs officers in Finland.
Razors are often sold at the supermarket, convenience stores and beauty supply stores. Quite often they are displayed in glass cases and under lock and key. But why? Razors and razor blades are small and very easy to conceal and steal. This was an observation made by US police. Razors and replacement blades, especially from top brands, are expensive. Thieves resell this commodity quickly as there is a demand for them. These stolen items are untraceable and can be sold online on Craig’s List and at small local shops. This trend was observed in the US from 2016.
4. Body Modification
Body modification, when done by authentic and licensed plastic surgeons, can result in satisfied clients who get just what they wanted. However, the black market for these medical procedures is run by unlicensed individuals who may have no medical background or experience. They do botched injections using free-silicone which is a liquid which is a non-approved form rather than like an implant. This can harden and even travel around making it harmful to one’s health. There are people who have lost their lives by undergoing such a procedure.
5. Plagiarized Dissertations
To obtain a doctor’s degree, a dissertation is a requirement. Well cheating in academia is more common than one may think. Students at this level look to take the easy road out by purchasing plagiarized dissertations on the black market. This practice is popular in many countries such as Russia. These dissertations, which are written by individuals with a little integrity, copy parts of dissertations, repackage them and sell them. Over 5,600 cases were detected by a group of volunteers who seek to expose this kind of fraud.
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