Name: The freakonomics of crack dealing
Uploaded: 2006-09-19T00:11:00Z
Duration: 21 min 1 s
Description: "Freakonomics" author Steven Levitt presents new data on the finances of drug dealing. Contrary to popular myth, he says, being a street-corner crack dealer isn't lucrative: It pays below minimum wage. And your boss can kill you.

Steven Levitt: The freakonomics of crack dealing

The freakonomics of crack dealing

"Freakonomics" author Steven Levitt presents new data on the finances of drug dealing. Contrary to popular myth, he says, being a street-corner crack dealer isn't lucrative: It pays below minimum wage. And your boss can kill you.

Street-level drug dealing, despite its reputation for fast money and glamour, actually pays less than minimum wage and comes with staggering risk. Most dealers earn just $3.50 an hour while facing a 25 percent chance of dying over four years. The real profits flow to a small group at the top, leaving most workers trapped in poverty and violence. The allure of wealth and status is a mirage built on dangerous illusions and false promises.