Fortunately for Tony and his peers, their rivals and the victims of crime cannot tell if their guns work any better than they can. Often, showing the bulge is enough to gain the respect of rival gangs. In robberies brandishing the weapon will usually do. Storekeepers do not wait for proof that it works.
Markets can overcome thinness, the paper says; they can also overcome illegality. But they cannot overcome both. A thin market must rely on advertising or a centralised exchange: eBay, for example, has dedicated pages matching sellers of imitation pearl pins or Annette Funicello bears to the few, scattered buyers that can be found. But such solutions are too cumbersome and conspicuous for an underground market. The drugs market, by contrast, slips through the laws fingers because of the natural density of drug transactions. Dealers can always find customers on their doorstep, and buyers can reassure themselves about suppliers through repeated custom. There are no fixed and formal institutions that the police could easily throttle.
Indeed, the authors argue that the gun market may be threadbare partly because the drug market is so plump. Gang-leaders are wary of gun-dealing because the extra police scrutiny that guns attract would jeopardise their earnings from coke and dope. Even Chicagos gang-leaders have to worry about the effect of crime on commerce.
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