ABSTRACT
It is a naive misconception that human behaviour in collective or political institutions would be less egoistic than in individual market transactions. The parallel economy uses the market prices available to it, meaning the historic, global and the black market ones. This parallel economy, especially its left-handed form, the black markets, was often considered in the socialist economies to be immoral and was legally and morally condemned. The incentive and the epistemic arguments justify the markets by claiming that they enable individuals to act upon their own projects and purposes and to use and benefit from their particular knowledge in society. These are the factors which make the free market system preferable to other systems. If there is no general moral order in the markets, the other constraints, the minimal libertarian institutions will not work either.
