
“Initially, these markets consisted of disorganized traders meeting in fields, facing seizure from police if they did not come up with a bribe. Today, the jangmadang practice has led to fully-fledged markets, complete with stalls selling street food, smuggled electronics, ingredients, and clothes; certain markets allegedly grew to encompass upwards of a thousand stalls. Today, the markets remain a crucial element of survival for many North Koreans, with some reports estimating that around 5 million (around a fifth of the overall population) are ‘directly or indirectly dependent on the markets’.”
Read more: https://fee.org/articles/in-north-korea-black-markets-are-saving-lives/
Related posts:
Will Grigg: Nationalizing Children
Teenage Dystopia: The Cycle of Oppression and Resistance
John Hussman: Do the Lessons of History No Longer Apply?
The Century of Arbitration and Peace
Love It or Hate It, You’re Missing What Really Matters About Bitcoin
The Market Shall Set North Korea Free
Higher Education Cartel, Meet Creative Destruction
Austrian Theory Explains and Exposes Booms and Bubbles
Is the U.S. at War with Al-Qaeda?
Look Out Silver, Here Comes Solar Demand
The Blindness of Modern Economists
Jim Rogers: Choose Farming for Your Family and Finances
Ralph Nader: Stopping Barry O'Bomber's Rush to War
Bill Bonner: Why I Sued Washington 28 Years Ago
Dual Canadian-American citizens: We are not tax cheats