Yeah, the book is definitely an in-house history, but it does a fine job of showing how a commodities market emerges and the way it shapes commerce as long as you skim a little.
Illegal drugs is a poor analogy; there are a lot of participants in the market, a lot of small transactions, and it can be a victimless crime. If you are looking to buy a little weed, your friends probably don't care.
A better one is high-end weapons. E.g., missiles. That's a market that's relatively small and obscure, and the prices are high. State actors can get away with trafficking, but individuals run a substantial risk of running across sting operations and other law enforcement activities. Further, as long as the market is widely reviled, random citizens are likely to report suspicious activity.
Illegal drugs is a poor analogy; there are a lot of participants in the market, a lot of small transactions, and it can be a victimless crime. If you are looking to buy a little weed, your friends probably don't care.
A better one is high-end weapons. E.g., missiles. That's a market that's relatively small and obscure, and the prices are high. State actors can get away with trafficking, but individuals run a substantial risk of running across sting operations and other law enforcement activities. Further, as long as the market is widely reviled, random citizens are likely to report suspicious activity.