countereconomy

American  

[koun-ter-i-kon-uh-mee] / ˌkaʊn tər ɪˈkɒn ə mi /

noun

PLURAL

countereconomies

1. an economy operating simultaneously with or in opposition to the established economic system.

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Etymology

Origin of countereconomy

counter- + economy

Example Sentences

Outside the official economy is a second, or countereconomy, which functions informally and in the best capitalist tradition.

From Time Magazine Archive

Much of the merchandise in the countereconomy is stolen from factories and restaurants by employees and sold at high markups.

From Time Magazine Archive

The fixer thrives in the countereconomy, acting as an entrepreneur who, for a price, knows where to get just about anything from new fenders for a Moskvich sedan to rare Western goods.

From Time Magazine Archive

Officials frown on the countereconomy but are at a loss to do anything about it.

From Time Magazine Archive