In most major cities in the world, there is an active and highly profitable shadow economy in phony consumer goods that generates (in some estimates) upwards of 500 billion dollars a year. If have ever been down to “Counterfeit Alley” in midtown Manhattan, you have seen one of the biggest counterfeit marketplaces in the world.
While many of us spend our waking hours lusting after the latest fashion designs from our favorite designers, there are a lot of people out there who purchase knock-off or phony items without fully appreciating the consequences.
I recently read a book called “Knockoff”, written by a fellow named Tim Phillips. It was an insightful read, with a number of interesting and often disturbing ideas presented. I was particularly interested in the section he devoted to the trade in phony luxury items such as designer handbags. These days, it seems I can’t go anywhere without seeing somebody carrying a fake Prada or Gucci purse. Personally, I have always resisted the urge to purchase a counterfeit purse. I have avoided the temptation mainly because such an action only undermines an industry I have grown to love. When...
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