Well, it doesn't work for cash transactions, so there's that. To clarify, with c...

tormeh on Jan 23, 2018 | parent | context | favorite | on: Opening Remarks at the Securities Regulation Insti...

Well, it doesn't work for cash transactions, so there's that. To clarify, with cash it's an honor system dependent on social norms. In most countries in the world it's failing badly, hence the term "black economy".