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Brand New Transfer Season NIL talk
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<blockquote data-quote="cpf2001" data-source="post: 989943" data-attributes="member: 6459"><p>This is completely backwards. The only thing separating an “illegal payment” from a “legal payment” is words in the law and potential punishment. Prohibition did not stop the market for alcohol, and supply and demand forces did not go out the window for it.</p><p></p><p>Markets are perfectly happy to exist inside, outside, or entirely without laws.</p><p></p><p>In many controlled economies the black market is more meaningful than the “real” one - the government price of a loaf of bread is pointless if nobody has any to sell you at that price and you have to pay 10x that to the black market seller.</p><p></p><p>Nobody would deny that you can attempt to regulate markets out of existence but the repeated failures of nations that have tried it is in large part because the underlying supply and demand forces exist anyway - especially once some participants start breaking the rules.</p></blockquote><p></p>
[QUOTE="cpf2001, post: 989943, member: 6459"] This is completely backwards. The only thing separating an “illegal payment” from a “legal payment” is words in the law and potential punishment. Prohibition did not stop the market for alcohol, and supply and demand forces did not go out the window for it. Markets are perfectly happy to exist inside, outside, or entirely without laws. In many controlled economies the black market is more meaningful than the “real” one - the government price of a loaf of bread is pointless if nobody has any to sell you at that price and you have to pay 10x that to the black market seller. Nobody would deny that you can attempt to regulate markets out of existence but the repeated failures of nations that have tried it is in large part because the underlying supply and demand forces exist anyway - especially once some participants start breaking the rules. [/QUOTE]
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