Legalization of Some Beneficial Black Markets Are Needed
More than a year ago when I was solo backpacking through central China, I argued that the illegal underground markets for imitation products provide an economic way for increase material consumption and employment of relatively poor areas. But the argument back then was still much too deviated from the legal reality to make much of a difference. After all, the value of expensive brands exist because of high quality and restricted supply, both of which are undoubtedly disturbed by the very existence of such markets for imitation goods. And people have the perfectly legal alternative to buy cheaper, non-branded, legally produced goods serving the exact same functions. The closure of the imitation market should not fundamentally reduce the standard of living for their consumers. The illegal markets fulfilled a "want" (most likely for "face" and bragging of the consumers to fulfill a standard Asian mental desire to out-compete others in everything ) rather than an