By Baak Chan Yak Deng, Juba, South Sudan
March 22, 2017 (SSB) — A parallel market, popularly known as black market, is a market whereby goods or service are traded illegally. The illegal economy consists of the income generated by engaging in the production and distribution of prohibited goods and services such as prostitution, illegal drugs dealings and smuggling of contraband weapons or ammunition.
According to scientific American Journal, says around 1.9 billion people are engaged in the black market. Every country has been spending a considerable amount of money and time but they all failed to eradicate black markets.
Take example of USA who spends billions of dollars annually to fight the war on illegal market but there are stills numerous numbers of black market in America today. “With estimates of $ 100 to 110 billion for heroin, cocaine and $ 150 for synthetic drugs”