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Naylor, R.T. Wages of Crime: Black Markets, Illegal Finance, and the Underworld Economy / Rev. ed. Ithaca:
Cornell University Press, 2005 (2002).
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“Never in history has there been a black market tamed from the supply side.
From Prohibition to prostitution, from gambling to recreational drugs, the story
is the same. Supply-side controls act to encourage production and increase profits.
At best a few intermediaries get knocked out of business. But as long as demand persists,
the market is served more or less as before. In the meantime, failure to ‘win
the war’ [against crime] becomes a pretext for increasing police budgets, expanding
law enforcement powers, and pouring more money into the voracious maw of the prison-industrial
complex.”—from the Introduction
R. T. Naylor specializes in the study of smuggling, black markets, and international
financial crime. Wages of Crime takes the reader into the shadowy underworld of modern
criminal business—arms trafficking, gold smuggling, money laundering, and terrorist
financing. Naylor dissects the schemes by which illegal entrepreneurs disguise their
acts, manage their take, and eventually enjoy the loot. The author asserts that much
of what police, press, politicians, and the public understand about international
crime is based on myth and misrepresentation. A fully revised final chapter covering
events since the book’s initial publication in early 2002 brings Wages of Crime
up to date.
R. T. Naylor is Professor of Economics at McGill University and a consultant to
tax authorities, law enforcement bodies, and the United Nations. He is the author
of many books, including Economic Warfare: Sanctions, Embargo Busting, and Their
Human Cost; Hot Money and the Politics of Debt; and Bankers, Bagmen, and Bandits:
Business and Politics in the Age of Greed.
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