White market
Encyclopedia
The white market, in libertarian
economic theory, is the legal 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. The New Libertarian Manifesto
states:
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. 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.
Libertarianism
Libertarianism, in the strictest sense, is the political philosophy that holds individual liberty as the basic moral principle of society. In the broadest sense, it is any political philosophy which approximates this view...
economic theory, is the legal 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
Red Market
The Red Market is a three-story wet market in Macau. It was erected in 1936 and derives its name from the red bricks used in construction. The market is located at the intersection of Avenida Almirante Lacerda and Avenida Horta e Costa on the Macau Peninsula and is one of the most popular markets...
of immoral activities banned by the state. The white market in some goods, such as adoption
Adoption
Adoption is a process whereby a person assumes the parenting for another and, in so doing, permanently transfers all rights and responsibilities from the original parent or parents...
of children, has been criticized as being inefficient due to government regulation. The New Libertarian Manifesto
New Libertarian Manifesto
The New Libertarian Manifesto is a work of agorist philosophy written by Samuel Edward Konkin III. In it, Konkin proffers various arguments of how a free society would function as well as examples of existing gray and black markets. It contains criticisms of utilizing political or violent means,...
states:
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. Murray Rothbard
Murray Rothbard
Murray Newton Rothbard was an American author and economist of the Austrian School who helped define capitalist libertarianism and popularized a form of free-market anarchism he termed "anarcho-capitalism." Rothbard wrote over twenty books and is considered a centrally important figure in the...
criticized agorism
Agorism
Agorism is a political philosophy founded by Samuel Edward Konkin III and developed with contributions by J. Neil Schulman that holds as its ultimate goal bringing about a society in which all "relations between people are voluntary exchanges – a free market." The term comes from the Greek...
, 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.