World Library  
Flag as Inappropriate
Email this Article

White market

Article Id: WHEBN0027181254
Reproduction Date:

Title: White market  
Author: World Heritage Encyclopedia
Language: English
Subject: Free market, Arbitrage, Black market
Collection: Economics Terminology, Free Market, Libertarian Terms, Libertarian Theory
Publisher: World Heritage Encyclopedia

White market

The white market, in libertarian economic theory, is the legal, official, authorised, 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.[4]

See also


  1. ^ LA Alexander, LH O'Driscoll (1980), Stork Markets: An Analysis of Baby-selling, The journal of libertarian studies 
  2. ^ New Libertarian Manifesto 
  3. ^ The Last, Whole Introduction to Agorism, Papers of the Libertarian Left 
  4. ^ Rothbard, Murray (November 10, 1980), Konkin on Libertarian Strategy 
This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.

Copyright © World Library Foundation. All rights reserved. eBooks from Project Gutenberg are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.