Steven Levitt Analyzes Crack Economics| 21mins
Director: TED | Producer: TED
Focus Years: 2008 | Country: United States
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 isnâ€™t lucrative: It pays below minimum wage. And your boss can kill you. With his 2005 book Freakonomics (co-authored with Stephen Dubner, a writer who profiled him for the New York Times), Steven Levitt carried hardcore economic method into the squishy real world and produced a pop-culture classic. Freakonomics is both an economics textbook and a series of cautionary tales about the fallacy of conventional wisdom. Levitt examines the links between real-world events, and finds many instances where the data simply doesn't back up popular belief.