Ethics of Black Market Trading in the Context of a Political Economy of Crisis: The Case for Zimbabwe

Dennis Masaka

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Ethics of Black Market Trading in the Context of a Political Economy of Crisis: The Case for Zimbabwe

Dennis Masaka

Great Zimbabwe University, Zimbabwe

Volume 10: 2012, pp. 47-60: ABSTRACT

This present paper analyses the ethical implications of the upward growth of black market trading in Zimbabwe in the context of its political economy of crisis that was predominant from 2000 to 2008. It argues that the growth of black market trading during the stated period can be situated in the prevailing political economy of crisis and strained state-market relations. Poor policy decisions by government as well as the imposition of targeted sanctions on the country by the United States of America (USA) and European Union (EU) contributed to this crisis. Grounded on the theoretical framework of political economy, such an analysis of the ethical implication of black market trading is necessary for students of business ethics not only because black market trading has had some significant implications on the economy of Zimbabwe, but also because it leads us to question the extent to which people take ethics to be of importance in business.