Courtesy Of Jerome Kyriakidis
Here is a short summary of a book I will one day write…eventually (So don’t steal the name).
In 2013, a new regulation implemented by the EU called for the inclusions of all transactions, no matter their legal status, to be recorded;
and one Country home to lasagna, pizza and architectural genius, has seen a huge increase in it’s gross domestic profits because of it.
Although better known for the recently mentioned delicious food and rich history, Italy is also famous for its many mafias. Their high level of organised crime and extended involvement all over the world contributed €170 billion to Italy’s gross domestic profits, accounting for a 11% growth that year (as opposed to 0.5% had it not been accounted for).
Now this doesn’t mean that the country is actually doing any better, they’re simply calculating their earnings in a different (conceivably more accurate) way. This brings some interesting and often unspoken points of our economy into the broader conversation.
The CrimEconomy plays a far more vital role than most people consider…or are willing to accept, but the latter depends on your morale stance. Not only does crime provide products and services to a target market that else wise would be left disregarded, it also creates a need for jobs that would otherwise be redundant, and I’m not talking about the ones for those choose careers of an illicit nature. Police, Law, Medicine and Insurance are all industries that are at least partial counterparts to crime.
- Legal workers regulate, defend and persecute those who are being held within a criminal manner.
- Police are used to deter, detect and detain criminals.
- Insurance policies usually cover theft, robbery, arson and more.
Even the evolution of Bitcoin may have been heavily reliant on its use for criminal activities and money laundering. It’s strong use case for the trading and provision of illegal substances, products and services, may have influenced it’s value and acted as undeniable proof that humans were able to transact fluently without a bank or governing figure maintaining regulations.
There is no doubt that crime is wrong, and laws have been put in place for a reason. More thought is required before we attempt to reconfigure a system, without the necessary components to replace the pillars that are holding it up.