“The greater the penalties laid on sellers in the black market… the higher the black market price.”

— Kenneth E. Boulding

Kenneth Boulding (1947) " A Note on the Theory of the Underground economy http://www.jstor.org/stable/137604". In: The Canadian Journal of Economics and Political Science. Vol. 13 no.1, p. 117; quoted in: Michael York (2007) The Entrepreneurial Outlaw http://www2.gcc.edu/dept/econ/ASSC/Papers2007/Entrepreneurial_Outlaw_York.pdf <br class="br">1940s

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Kenneth E. Boulding163

British-American economist 1910–1993

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“The greater the penalties laid on sellers in the black market… the higher the black market price.”

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