The Shadow Economy: Difference between revisions
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===Drugs=== | ===Drugs=== | ||
===Counterfeiting | ===Counterfeiting=== | ||
• Counterfeit refers to any imitation item that is fraudulently passed off as real. | |||
• Currency, documents, clothing, media items, pharmaceuticals, and all trademarked and copyrighted goods are subject to counterfeit. | |||
• Counterfeit products encompass those that are nonfunctional and are only made to look like a product, and those that are generally of similar quality to the original but were made illegally, without the consent of the copyright owner. | |||
• The reproduction of copyrighted and trademarked items is referred to as Intellectual Property crime. | |||
• In addition to fake items being sold, “bootleg” items are those that are of similar quality to the original but sold at drastically low prices. | |||
• the end user often knows they’re counterfeit but ignores that due to cheap prices. | |||
====Economic Effects==== | |||
• Counterfeit products are estimated to exceed 6% of global trade. | |||
• The FBI estimates that legitimate business loses between $200 and $250 billion dollars per year | |||
• In addition to the hundreds of billions of dollars that Intellectual Property crime cost the public and businesses, there is a ripple effect that extends to many other aspects of the economy. | |||
o It can potentially slow investment and innovation in the business world | |||
o Law enforcement is forced to devote time and resources to stop counterfeiting | |||
o Counterfeit products almost always escape taxation | |||
• The city of New York loses an estimated $500 million in state sales tax due to counterfeit goods. | |||
==References== | ==References== | ||
Revision as of 19:51, 3 December 2006
Description of the Shadow Economy
Definitions
Methods for Measuring the Shadow Economy
Data on the Shadow Economy
Trends in the Shadow Economy and Their Causes
Effects of the Shadow Economy
Aspects of the Shadow Economy
Illegal Immigration
Description
Statistics
Effects
Drugs
Counterfeiting
• Counterfeit refers to any imitation item that is fraudulently passed off as real.
• Currency, documents, clothing, media items, pharmaceuticals, and all trademarked and copyrighted goods are subject to counterfeit.
• Counterfeit products encompass those that are nonfunctional and are only made to look like a product, and those that are generally of similar quality to the original but were made illegally, without the consent of the copyright owner.
• The reproduction of copyrighted and trademarked items is referred to as Intellectual Property crime.
• In addition to fake items being sold, “bootleg” items are those that are of similar quality to the original but sold at drastically low prices.
• the end user often knows they’re counterfeit but ignores that due to cheap prices.
Economic Effects
• Counterfeit products are estimated to exceed 6% of global trade.
• The FBI estimates that legitimate business loses between $200 and $250 billion dollars per year
• In addition to the hundreds of billions of dollars that Intellectual Property crime cost the public and businesses, there is a ripple effect that extends to many other aspects of the economy.
o It can potentially slow investment and innovation in the business world
o Law enforcement is forced to devote time and resources to stop counterfeiting
o Counterfeit products almost always escape taxation
• The city of New York loses an estimated $500 million in state sales tax due to counterfeit goods.
