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

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