What Are The Advantages And Disadvantages Of The Underground Economy?

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Chicago is notorious for its abundance of gangs and violent crime, yet what if these were just smaller parts of a much bigger picture and you were told that Chicago had one of the most thriving underground economies in the United States? What if this underground economy had more advantages to it than meets the eye? It goes without saying that any gang-related activity is unethical, yet what makes that so? An underground economy is defined, as “illegal economic activity which entails transactions where a good/service is illicit, or the transaction itself does not meet government regulations and requirements” (Investopedia 2015.) So what if the sale and production of the drugs that many gangs distribute became legalized? Would it then be easier …show more content…
and become the leader of the BKs for the day, of course not literally, but he had to deal with many of the problems J.T. would have to encounter either day-to-day or on the fly. This first-hand experience is the closest a person can get to being a major factor of an underground economy without actually having to join it. I believe that the situations that this entire chapter contains show many people who participate in the underground economy of the BK gang, and this chapter is, in fact, the one where Venkatesh showcases a lot of how the economy has its advantages and disadvantages. People are participating in this economy for several different reasons, whether it benefit themselves, such as the workers and gang members who sell drugs to make a living, Pastor Wilkins, and Mrs. Bailey (building manager of the Robert Taylor homes) or to help the community such as the cops on J.T.s payroll (pg. 116), and even Mrs. Bailey to keep her building clean and residents content, as well as keeping the Chicago Housing Authority in check (pg. 122-124). People who participate in this economy besides J.T. are Price and T-bone, the security chief and treasurer (respectively.) Both are under J.T. and are some of the few who know about Venkatesh being “leader’ for the day. The 4 men (J.T., Venkatesh, Price, and T-Bone) meet in a diner in a better part of Chicago to talk about the agenda set out for Venkatesh, as he is the …show more content…
The government generally opposes the activity of an underground economy but many factors arise when it comes to the interactions between the two, leading to difficulty in shutting one down. Yet though that is true, underground economies benefit communities that are overlooked by the government and people who are struggling with making a living and have no option but to turn to illicit ways to make money. This entire book shows many ways that the participants of the underground economy are affected and ultimately how society is affected by its

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