In Illicit, you write that “networks of stateless traders are changing the world as much as terrorists are, probably more.” Could you elaborate on that?
In terms of the scope and the frequency, illicit trades far outnumber terrorism. And in terms of the consequences they’re having for democracy and for the functioning of markets, illicit trade has a far greater impact. It undermines entire industries and reshapes cities.
[This article has been reproduced with permission from Qn, a publication of the Yale School of Management http://qn.som.yale.edu]