Word: underworlders
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Schelling believes that "a good many economic and business principles that operate in the 'upper-world' must, with suitable modification for change in environment, operate in the underworld as well." Indeed, there is a distinct "typology of underworld business." One major group is black markets, which sell "commodities and services contrary to law," such as dope, abortions and-through scalpers-New York theater tickets. A second is racketeering, which includes extortion and other businesses "based on intimidation...
Infra-Structure. Like legitimate business, the underworld has its basic, or "core," industries. "In economic-development terms," says Schelling, "black markets may provide the central core (or 'infra-structure') of underworld business, capable of branching out into other lines." The underworld economy probably grew out of the Prohibition-era bootleg liquor industry, which "may have put underworld business in the U.S. in what economic developers call the 'takeoff' into self-sustained growth...
...Schelling, professor of Economics, at the Association for the Advancement of Science's recent annual meeting, are printed below. These sections, constituting about a third of the entire paper, are his introduction and his concluding remarks. Intervening sections dealt with market organization, incentives, and various other practices of underworld crime...
...good many economic and business principles that operate in the "upperworld" must, with suitable modification for change in environment, operate in the underworld as well, just as a good many economic principles that operate in an advanced competitive economy operate as well in a socialist or a primitive economy...
...addition to sheer curiosity there are good policy reasons for encouraging a "strategic" analysis of the criminal underworld, an analysis that might draw on modern economics and business administration. Such an analysis, in contrast to "tactical" intelligence aimed at the apprehension of individual criminals, could help in identifying the incentives and the limitations that apply to organized crime, in evaluating the costs and losses and in restructuring laws and programs to minimize the costs, wastes and injustices that crime entails...