Stories tagged dealer

Feb
28
2007

They call Economics “the dismal science” because it pays no attention to questions of right and wrong, good and evil, but only looks at supply and demand, profit and loss. But even with that limitation, it still helps illuminate certain moral precepts.

Take for instance the old adage “crime doesn't pay.” According to economist Steven Levitt (WARNING: 22-minute video, with occasional objectionable language), the worst job in America is drug dealer. Not only does it ruin lives; not only does it bring crime and violence that destroys entire neighborhoods; it simply doesn't pay well:

  • The average dealer earns $3.50 an hour – well under minimum wage.
  • There is little opportunity for advancement.
  • The death rate is extremely high. Not only is a dealer more likely to die on the job than a soldier on active duty; a dealer is seven times more likely to die in a given year than an inmate on death row!

Even without considering legality or morality, the math shows: dealing drugs is a pretty dumb way to make a living.