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

black market

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 ?
While bemoaning their lack of power to catch the really big fish, especially zaibatsu firms, many police made their living by extorting "exemptions" from black marketeers in return for looking the other way.
With no war to fight, Ray makes the monotonous days go quicker by acting as a drug dealer, black marketeer and all-round party provider to his apathetic army pals.
An evil black marketeer in rare animals tries to kidnap Joe but leggy Charlize helps him to leg it after a road accident in downtown LA.
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The tale then digresses to focus on motorcycle courier Mardar (Jia Hongsheng), who is enlisted by a black marketeer in vodka to transport the man's teenage daughter, Moudan (also played by Zhou), across town each day to her aunt while he entertains his floozies.
This grasping black marketeer couldn't care less that his activities are jeopardising security for the Euro '96 soccer finals.
Alan Arkin makes a fair stab at bombed-out bombardier Yossarian, Richard Benjamin is a supremely supercilious Major Danby and Jon Voight is black marketeer Milo Minderbinder.
They teamed up to get the better of black marketeer baddies, but there was also a romantic sub-plot.
Summary: The drama, partly shot in Dubai, also takes in cybercriminals in India, black marketeers in Zagreb, druglords in Colombia
Khan argues that to keep our priorities straight we need to recognize how the unscrupulous, from black marketeers to politicians, exploit outbreaks as opportunities for advancement; addressing that issue is an essential part of fighting the disease.
Ostensibly a recently recovered and just-dubbed-into-English program from Nicolae Ceausescu's brutal fiefdom but in reality an Amazon Original production shot on location last year with leading Romanian actors, Comrade Detective follows Bucharest cops Gregor Anghel (voiced by Channing Tatum) and losif Baciu (voiced by Joseph Gordon-Levitt) as they track down the killer of their mutual friend and former partner, search for an elusive murderer in a Ronald Reagan mask, and bust black marketeers giving away Jordache jeans (pronounced "Jor-dah-kee") to stoke insatiable Western-style materialism among Romanians.
But Chung-Seong struggled to survive on his pay and turned to selling any small bits of copper cabling he could find to black marketeers.