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Macroeconomics Global Sex Trade

In: Business and Management

Submitted By noraanzawi
Words 332
Pages 2
The two articles I reviewed about the global sex trade focused on the website Backpage.com, a sex trafficking forum that has gained controversial heat due to its commercialized use for prostitution and exploiting minors. According to ABC News, Backpage.com is responsible for an estimated 70 percent of prostitution ads circulating the web (Hinman et al.). After doing some further research I discovered that the owners of Backpage.com, a private publishing group called Village Voice Media, originally created the advertising site as an alternative to Craigslist in response to the diminishing classified ad market in newspapers. Backpage.com has become the second most successful online classified site, frequented mostly for it’s posting of escort services then used cars or job inquiries. Interestingly enough, Village Voice Media owners happen to have stake in global banking firm Goldman Sachs, a key participant in the involvement of subprime mortgages that contributed to the 2008 recession. Although Goldman claims they’ve had no knowledge of the company’s ties to sex trafficking prior to the recent allegations, it seems as if they have done nothing to persuade Village Voice Media to prevent Backpage.com from ceasing circulation of such exploitive ads.

Works Cited
Hinman, Katie, and Melia Patria. "Girls Sold for Sex Online, Backpage Defends Decision to Keep Ads Up." ABC News. ABC News Network, 24 Apr. 2012. Web. 24 Jan. 2016.
Kiefer, Michael. "Phoenix New Times Founders Selling Company." Azcentral.com. The Arizona Republics, 23 Sept. 2012. Web. 24 Jan. 2016.
Kristof, Nicholas. "Financiers and Sex Trafficking." The New York Times. The New York Times, 31 Mar. 2012. Web. 24 Jan. 2016.
Kristof, Nicholas. "Making Life Harder for Pimps." The New York Times. The New York Times, 05 Aug. 2015. Web. 24 Jan. 2016.
U.S. Securities and Exchange Commission. "SEC Charges Goldman

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