black market

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black market,

the selling or buying of commodities at prices above the legal ceiling or beyond the amount allotted to a customer in countries that have placed restrictions on sales and prices. Such trading was common during World War II wherever the demand and the means of payment exceeded the available supply. Most of the warring countries attempted to equalize distribution of scarce commodities by rationing and price fixing. In the United States black-market transactions were carried on extensively in meat, sugar, tires, and gasoline. In Great Britain, where clothing and liquor were rationed, these were popular black-market commodities. In the United States, rationing terminated at the end of the war, but a black market in automobiles and building materials continued while the scarcity lasted. In the decades following World War II, as the countries of Eastern Europe were trying to industrialize their economies, extensive black-market operations developed because of a scarcity of consumer goods. Black marketing is also common in exchange of foreign for domestic currency, typically in those countries that have set the official exchange value of domestic currency too high in terms of the purchasing power of foreign money. Black-market money activities also grow when holders of domestic currency are anxious to convert it into foreign currency through a fear that the former is losing its purchasing power as a result of inflation. See also bootleggingbootlegging,
in the United States, the illegal distribution or production of liquor and other highly taxed goods. First practiced when liquor taxes were high, bootlegging was instrumental in defeating early attempts to regulate the liquor business by taxation.
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Bibliography

See W. Rundell, Black Market Money (1964).

black market

1. 
a. any system in which goods or currencies are sold and bought illegally, esp in violation of controls or rationing
b. (as modifier): black market lamb
2. the place where such a system operates
References in periodicals archive ?
101) It is not much of an exaggeration to say that under Japan's tyrannical wartime economy, everyone was a black marketeer.
While the locals appreciate Haarmann's fresh supply of meat, his neighbor Frau Lindner is suspicious and complains to the police, who fail to investigate because Haarmann is helping them capture black marketeers.
But in the opinion of Johnny Murtagh, the race made a man of the horse and he certainly hasn't looked back since, thriving like a black marketeer in post-war Berlin.
We meet certain individuals who denied their Jewishness, one who turned from communist functionary to black marketeer, a woman who was raised as a Jew but was actually the daughter of a highly placed Nazi, and several who sacrificed family members in order to survive.
Free Men (12A): Story of a WI Algerian black marketeer.
A BLACK marketeer had his curfew hours cut after it was argued they were "imposing on his human rights".
25pm Mara Wilson (right) stars as the girl with special powers in this adaptation of Roald Dahl's classic children's story The Market BBC4 10pm Turkish drama, starring Tayanc Ayaydin as a black marketeer who tries to make quick money by smuggling pharmaceuticals.
Some unscrupulous owners of bakeries sell part of their daily quota of subsidised flour to the black marketeer in return for hefty gains," Yousuf told Gulf News.
She's there just to help out those poor souls whose appointments are arranged by old friend and small time black marketeer Lily (Ruth Sheen) naively unaware that her go between doesn't share the same altruistic concerns.
Pansy notices that the eyes of fiance Maury, a black marketeer, are roaming in the direction of his "business" partner Carla.
He got the jail's black marketeer Ellis "Red" Redding, played by Morgan Freeman, to obtain it for him.
As well as being praised for his Poirot, he won Oscars for the role of Batiatus, owner of the gladiator school in Spartacus, in 1960, and as Arthur Simpson, an English black marketeer in Turkey who gets caught up in a jewel heist in Topkapi, in 1965.