White market

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The white market, in libertarian economic theory, is the legal, official, authorized, or intended 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.[1] The New Libertarian Manifesto states:[2]

In 1975, the New Libertarian Alliance left their campuses and aboveground “white market” jobs and went full-time counter-economic for a decade to prove the strategy's viability.[3] Murray Rothbard criticized agorism, stating that it was unrealistic that the black market could compete with the white market in industries such as production of automobiles, steel and concrete and that the industries that it could compete in were "marginalia", too small to be relevant even in aggregate.[4]

See also[edit]

References[edit]

  1. ^ LA Alexander, LH O'Driscoll (1980), Stork Markets: An Analysis of Baby-selling (PDF), The journal of libertarian studies 
  2. ^ New Libertarian Manifesto (PDF) 
  3. ^ The Last, Whole Introduction to Agorism, Papers of the Libertarian Left 
  4. ^ Rothbard, Murray (November 10, 1980), Konkin on Libertarian Strategy