User:Colez97/sandbox

= Repugnant Markets = A repugnant market is a type of black market which can exist in both the physical and virtual world in which commodities that are generally categorized as unethical are bought and sold. In countries like Canada and the United States who have free market economies there is no government regulation that restricts any products or services from being available in the market. Laws can be passed to restrict certain products and services from the market but their existence can remain in virtual markets. Such commodities include body parts, drugs, hitman services, and surrogate services.

General Philosophy
Repugnant markets were created out of people's wants and needs for commodities not available in the market and tendency to do whatever it takes to access them. People sometimes need things that aren't available whether it be an essential organ that they are on a waitlist for, or someone to have a baby that has the parents DNA. Therefore, people take it upon themselves to create a supply of these types of commodities to fulfill the demand that exists in the world. Due to the amount of risk the supplier takes in supplying these commodities they are able to charge a very high price for their services.

Economic Philosophy
In a free market economy supply and demand dictate the prices of the products and services available free of government regulation. Therefore, free of government regulation, the market should be able to dictate what commodities can be bought and sold in the market. If there isn't enough demand for a product or service than it will cease to exist in the market as it is no longer profitable to supply it. If enough of society is purchasing the products and services available in repugnant markets then the demand is enough for these for producers to keep supplying them.

Examples
Repugnant markets can exist in certain countries but be considered regular legal products or services in other countries. For example, the services of an Indian surrogate mother to carry a pregnancy is $6,250 in India. Western couples seeking surrogates increasingly outsource the job to India, where the practice is legal and the price is less than one-third the going rate in the United States. In Iran, the government supports and regulates the selling of organs to people in need in attempt to negate transplant tourism and the emergence of a repugnant market for this product. Due to lack of infrastructure to maintain an efficient organ transplant system in the early 80's, Iran legalized living non-related donation (LNRD) of kidneys in 1988. The Charity Association for the Support of Kidney Patients (CASKP) and the Charity Foundation for Special Diseases (CFSD) control the trade of organs, with the support of the government.

Purpose
Repugnant markets exist to fulfill the illegal material needs of people that the government refuses to. They are niche markets that serve people that are willing to go outside of the law and pay unknown, unverified, and unregulated sellers and suppliers for their illegal services. These markets appeal to the minority of the population and therefore their products and services are very expensive, rare, and hard to obtain.

Consequentialist
From a consequentialist point of view, allowing products and services that are available through repugnant markets to become a bigger more normal part of our society could produce good and bad consequences so it is unclear if it would be a viable option. On one hand less people would die waiting for organ transplants, more jobs would be available, and it would be easier to find surrogates for child birth. On the other hand it could cause more violence in the world, negate important laws, and encourage people to things like drugs.

Paternalist
From a paternalist point of view, repugnant markets are unethical and shouldn't exist. Although this would be against the will of people and their ability to be autonomous in terms of how they live their life and what they spend their money on, it is for the common good of society. These markets allow for the easier free flow of goods and services like drugs and hitman services which can be harmful to people and cause chaos in societies if not controlled. Making these markets less easily accessible preserves the governments ability to exercise their authority over people and markets.

Ethical Approach
From an ethical point of view, the rules society sets out are for the common good. Therefore, we should only attempt to obtain and sell products and services that are legally allowed by the government.

Critiques
Fred E. Foldvary, a teacher of economics at San Jose State University discusses an experiment in his article Do Markets Promote Immoral Behavior? in which people were offered a choice between receiving 10 euros versus letting a laboratory mouse get killed. If a subject decided to save a mouse, the experimenters bought the animal, But in the experimental market with buyers and sellers, more people were willing to accept the killing of a mouse than when individuals were simply offered an isolated choice. Therefore, the researchers concluded, markets erode moral values.

Kerry Baldwin, an independent researcher and writer explains how to solve the problem of repugnant markets and black markets in her article The Problem with Black Market Economics as she believes that the best way to rid ourselves of the black market is to deregulate the white market, decriminalize black market transactions, or, even better, dissolve the monopoly on civil governance.

Societal
The products and services offered in repugnant markets as well as other black markets are generally not permitted to be offered in regular markets. The popularity of products and services offered in black markets leads to the creation of more products and services that don't benefit society. Human trafficking became popular as result of this as seen through the legalization of prostitution and sexual services in certain countries. The ability of markets of this type to survive and thrive influence more of society to circumvent the governments reach in other ways which can lead to unfavourable outcomes for society in the future.

Economic
The economic effects that repugnant markets have on the economy include more pushback against the government, tax evasion, and adverse health effects. The products and services being offered are generally actively trying to be negated by government entities as seen through the drug crisis that has been ongoing for decades as the government attempts to shut down these operations. All transactions in this type of market are cash transactions as they usually involve a large sum of money that cannot go through the bank without looking suspicious and therefore aren't subject to taxes as the government does not know of them. Most commonly in this type of market with products like body parts, drugs, and human trafficking there is a good chance of adverse health effects to occur as with each there is an unsafe element involved.