Definition of black economy
- By tax-avoidance and regulation-evasion, the “black economy” amounts to an unofficial but effective supply-side program.
- —George F. Will, Springfield (Massachusetts) Union-News, 14 Sept. 1989
- For instance, it taxed gross business income. Thus, tax bills could exceed net profits. So businesses became part of the black economy. And the government didn't know where to get revenue again.
- —P. J. O'Rourke, Rolling Stone, 14 Nov. 1996
- The heroin trade funded Pakistan's thriving black economy.
- —Tariq Ali, The Duel, 2008