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- เผยแพร่เมื่อ 7 ก.ย. 2024
- www.ted.com 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 isnt lucrative: It pays below minimum wage. And your boss can kill you.
TEDTalks is a daily video podcast of the best talks and performances from the TED Conference, where the world's leading thinkers and doers are invited to give the talk of their lives in 18 minutes -- including speakers such as Jill Bolte Taylor, Sir Ken Robinson, Hans Rosling, Al Gore and Arthur Benjamin. TED stands for Technology, Entertainment, and Design, and TEDTalks cover these topics as well as science, business, politics and the arts. Watch the Top 10 TEDTalks on TED.com, at
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A great lecture once you get past the uncommonly low resolution. You've got so many intriguing elements: the risk the co-author took by trying to infiltrate the gang, the surprising bond he formed after proving himself to be vigilant and fearless, the sympathy the authors have for the kids who feel compelled to join gangs for the $, the economic lessons learned from gang finances, and so on.
Fascinating.
Are people really not able to watch this because of the resolution? That seems crazy! but idk
It's actually quite common, the low resolution.
Sweet times when TED talks had substance.
lol )
+Anurag Sharma So true my man. So true.
Preach brother
Anurag Sharma true but the speakers aren't as good.
Back when the content mattered more than the delivery of the speech..
In the Freakonomics book, there's a whole other story about how they came to keep financial records. Some graduate (business, I think) became a gang member and started keeping books for the gang. He ended up in a really high position. The gangs had a really organised hierarchy too, with different ranks and benefits etc. It was like a corporation.
Boy that n-bomb at the end would have caused a stir in 2017. Still, I wish my econ books had had those gang member explanations for economic theories, they were fantastic!
Every once in a while someone will explain a complicated concept in the simplest of terms and it flips the switch for people. A.A. Milne, the Winnie the Pooh writer was genius at it.
The rabid SJWs of our time would destroy Steve for saying that nowadays. He would be called a racist, intolerant, insensitive, the list goes.
That hard ER hahaha
@@clayhackney3514 ngl, he probably quoted that wrong.
Rather deal with a SJW then a bullet at Walmart👀
Talking about the eighties while dressed as the nineties on a platform in the 2000’s
With a 70's hairdo
Watching a decade later.
True!
@@Ankit-zu2kp aha feel like playing Nintendo FC game.
HAHAHA!!
Why is this recommended to me just now.. anyone else?
Just now ??? weird
Same here, I thought it was odd myself
Same here. 12 year old video
algorithm waits a week to cache data and pukes recs on a Sunday (....?)
Same, but I'm also an econ major, so....
I saw this twelve years after it was released. It was worth the wait.
Just finished the book. One of the most amazing things I have EVER read.
which book?
Freakonomics by Steven D. Levitt & Stephen J. Dubner. A very interesting study in how statistics can be analysed to give us a greater understanding of our societal issues and how to solve them. Sounds a little stale, right? It's fascinating, entertaining and captivating.
+Jack Jameson how can you read his comment if you can't read?
Late to the party, but i just finished it and came back here to see this again. Absolutely amazing book.
When he describes the gang leaders having gold plated jewelry and leased cars, it reminds me of the point of celebrities to encourage the general population into debt.
SaraHeartsGirls Only the fools fall for that.
soho yankee- yeah, but there's a lot of fools out there
So true
@@pashadyne In the middle ages, that was the role of religion.
@@ktreagus Not necessarily. Please pick up a book and try to actually learn something instead of mindlessly parroting what you hear on Reddit.
TH-cam recommendations is clearly broken, but i really enjoyed his presentation.
you clicked on the video and enjoyed it. sounds like the recommendations are doing their job if you ask me
I noticed that some suggestions come in waves. Maybe in some weeks I see too many videos and /or my subscriptions are too messy ... many videos that I saw years ago are being proposed to me again and my thumb is gone too.
I noticed that this happens in times when I am interested in channels that I have not paid attention to for some time and spend a lot of time on TH-cam at the same time.
This always strikes me when I watch a couple of videos about US news or politics. I guess the algorithm would like to re-evaluate me and maybe learn what I like to see on TH-cam.
However, after a while, because I'm not interested in news abroad every day, the algorithm has forgotten everything again. (Sorry, being lazy here, it's google translated ;-)
@@plawso lol, good point.
@Liam Mackenny have you tried:
trackthis.link/
where you can choose an alter ego and ads will be altered ... quite funny ... and scary ;-)
TH-cam algorithm is never broken. Its created, managed and maintained by a trillion dollar company @@DL-fy5yr
The ad at the beginning of this video when I watched it was for McDonald's
same
same
why are you watchin ads at all
shhh, adblock is a big secret :)))
it's a secret to everybody
TH-cam recommendations be like:
2007-2018: nope
2019: yup
I know..whats up with that...?lol
"Can't get rich selling marijuana"....Boy, times have changed. LOL!
still can't
California just had to give a $100million bailout to the marijuana industry, yes how times have changed indeed, lol, indeed.
@@RelativeBadger not true. Get it cheap enough and move alot.n
@@AngelPerezComedy Lol good weed aint cheap and cheap weed aint good, only the growers really making money
He's right, i think you mean you can get RICHER but you'd already need a ton of money to actually become rich with weed, all the big weed companys are owned by big companies keeping it lowkey
Anyone interested in the sociological perspective, as opposed to an economist's, might be interested in Sudhir Venkatesh's Gang Leader For a Day which goes into much greater detail of Sudhir's experiences with the group.
The term "real world" is used abundantly. When I was active duty we called mainstream America the "real world" and when I was is college we did the same. I don't believe his intention was to discount the struggle of their lifestyle but to relay to the audience that it was an entirely different lifestyle.
Whoaaaaaaaaa Ted Talks used to be REAL??
No way man this is so good
This isn't Ted Talks...
I actually feel a little more enlightened. Genuinely. Whoa.
Listen to the Freakonomics podcast this guy and his partner (okay, mostly his partner) does. It's this type of analysis every episode.
Ted himself was actively involved back then...
edit:Thank you for the likes 2 strangers...
I have no idea why this showed up in my feed, but it was fantastic.
I'm was supposed to be studying corporate finance when I was watching this. I later realized our professor told us to read Freconomics. I had written this in my notes and forgot about it. I guess I was procrastinating and studying at the same time.
Follow up: I managed to pass the test! :D
I really appreciate his intellectual humor.
He is a GREAT stort-teller.
I like his final conclusion. It speaks volumes as to why the people at the bottom of the corporate structure keep supporting / promoting all that money going to the top while they are shat upon - they look up and think "that could be me." They project themselves upon the fat cats at the top. And with that projection, they would never want to cut the pay or bonuses or increase taxes of those at the top even though that would make life better for those at the bottom.
no it's because they don't know any better. I worked briefly at a place where they cut everybody's pensions because they said that they didn't make enough money. But plenty of money had been made it was just that they didn't want to pay people for some reason
Any pay or taxes higher than zero is bad for business. Slavery, prison labor and automation, temporary employment and cut everyone's healthcare are what the business community is up to.
Jon Chin Actually, taxes can be great for business. Taxes pay for roads and airports, for telephone and internet infrastructure, for law enforcement and fire departments. Taxes pay for education which businesses need in order to have capable employees. Taxes take money out of the hands of those with abundance and dole it out mostly as jobs to government workers and to contractors (i.e. businesses) helping to move money around the system and thus stoking the economic engine which means more people buying and thus more business. The list goes on. Anyone who claims to be a "self made" business person is ignoring all this infrastructure that has been given to them - they are not self made, they just took the initiative to turn these government backed programs and make good on them. That is great, they did well, but they did it on the back of a healthy infrastructure that was built by tax dollars for their benefit and their taxes are their contribution back into this system to help continue strengthening the system for the future. The propaganda from the rich has warped peoples' minds to think that taxes are all bad but this is not so. If you want to learn more, check out the book "Born on Third Base" by Chuck Collins: books.google.com/books/about/Born_on_Third_Base.html?id=FEcDDQAAQBAJ&source=kp_cover&hl=en
I agree, it's a shared environment. Obama got skewered for saying, "you didn't build that" because he's left of center and a neo-Keynsian. But someone in America needs to find a balancing point and clearly articulate what is the exact role of government in our modern society without being socialist. I dont mind paying taxes if I can see that infrastructure is actually being built but unfortunately too many taxes are punitive or the $ just vanishes. Keynes v Hayek, it's time for neo-Hayek-ianism.
businesses hate paying taxes because all they care about is making the most money possible at any cost. of course taxes means infrastructure, which helps business. but that doesn't change the fact that tons of wealthy people want to lower taxes and make government smaller, just so that they and their companies can make more money.
The entire purpose of the talk was to demonstrate that, A. Drug dealers don't make a good living, and B. Why it is still rational. This study illuminates the difficulty of inner-city living and helps to show that it may not be simply be the residents fault. Of course, a few feelings were hurt along the way (not the least of which are yours), but presumably, the implications of the study are more important than your hurt feelings.
Loved his and Stephens book 'freakonomics' and 'how to rob a bank'. These guys rock and make economists sound cool
The amount of laughter this audience reacted with to him using the vernacular of the gang members is telling...
My thoughts exactly.
Humor never changes lol.
Telling of what?
@@Lishkabro, extreme white privilege. This is Monterrey, CA after all.
It's juxtaposition, he's purposefully making it humorous
Bill Gates twin brother sure knows a lot about the Drug Game.
a pimps love is very different than that of a square
@@joshmayne2853 it's a fascinating world none the less... awesome reference.
Hey TED, would it be possible for you to reupload these in HD or at least 360p or 480p
you don't need to see the freckles on his dick just listen to what he's saying.
walter white how about reading the presentation
***** Apple fan boys be trollin' like only Apple fan boys do.
Tom Just read his book.
no
"Has never been shared.... until now"
Published on 16 Jan 2007
Ste Richards TH-cam algorithm has been going a bit bonkers lately
that ad at the end was actually clever... look at how the companies perceive us now...
This is one of my favorite TED talks that I've seen.
This is mine: th-cam.com/video/Gj8IA6xOpSk/w-d-xo.html
Tarantino is taking notes to his next movie... " did you know that we get lower wages then a MacD employee".. :D
"lower wages then"
than
i wasn't a gang member when i grew up but i had just as many guns waved in my face when i worked at 711 and to a teenager they are going to want a lot more money to do a job like i had so if they are going to be shot at may as well sell drugs a lot of co workers saw things this way but the problem in america is that police are under educated for the job they hold they should spend 3 years in the police academy that is why local and metro cops need to be abolished and state forces take over the job fines should be uniform so someone who has the misfortune of a broken tail light only gets fined once instead of 4 times on a single commute home
You used one punctuation mark in your entire run-on sentence.
Smash if i had a better education do you think i would work at 711
Smash looked like a paragraph to me.
This guy really gets it. He must have been a hopper in a corner somewhere.
Pretty much every competitive environment operates on that last quote from the drug dealer.
Jack Middleton Selling anything is business
Source: I was the middle school paper fortune teller dealer
First ones free, colored paper is 5 cents extra
Very True
Ah- 2004 TED talks. Watching in high quality 240 p
144 p in 2018 baby
He reminds me of Richard from Silicon Valley...
HA!
i thought it was him till mid way thru
exactly, all the way even the way he speaks... the actor playing Richard maybe used him as an inspiration for the role...
man this has to be the best TED ive seen!
peter griffin 8 minutes in and its trash
He mentions his friends got shut out in Silicon Valley, well I hope they stuck around because there were some big things going on in the area right about the time of this presentation.
dont worry he started pied piper soon after
This is similar to corporate world and in MLM
Marxism Leninism Maoism?
Holodomor [ASMR]
MLM stands for multi-level marketing. I think the easiest way to describe it would be to simply say that it's basically a pyramid scheme and leave it at that. Although, I've been watching some videos about r/antimlm recently, and one of them has an intro that breaks it down perfectly. Here you go...
th-cam.com/video/5ivEPxskIzk/w-d-xo.html
it's all a pyramid
deffinantly one of the best TED talks ever. this was awesome! good to spread the word about some people who dont have it as good as everyone else
The one with Ed O'Neil is pretty good. Check that out
Freakonomics was a great book. I know a lot of research went into it, but I'd love to read more just like it.
There are two sequels!
20:52 i can see the article already... "nerdy looking white man says n-word"
in a sense, it is a self defeating system. Even if you are on "the board of directors" and make 400,000 / yr. , one has no legitimate way to invest the earning and actually escape into a legal lifestyle.. Thus no upward mobility for those on the bottom.
You couldn't started a side business to launder the money, or purchased mortgages where you didn't have to provide documentation as to where you got the money, especially back then. Buying and renovating houses would've been the easiest way.
Same as prohibition, Italians went for the glory Jews became bankers. Guess who ended up dead and who retired? I'd take that 100,000 a few years and bounce.
False.
Is this guy still CEO @ Pied Piper?
For Microsoft you mean?
Terrence Bennett lolol
Terrence Bennett came to see this answer and was no disappointed!
This was all laid out in maybe the best TV show of all time...."The Wire".
Breaking Bad is the best show of all time. Except maybe The Wire.
I don't have time to listen to this whole video, but if its premise is that dealing drugs is not lucrative, I completely agree. Most people arrested for selling drugs are poor. The money they make dissolves, and when jail time is factored in, very low paying. Often, they are addicts themselves, so most of the proceeds go to supporting their own habit. Selling drugs is a bad way to make money.
Hey, I'd like to thank the Authors of the Subtitles. I feel they are never mentioned.
After reading Freakonomics I wondered what Steven looked like but didn't know. After seeing him here he's exactly what I imagined.
Back when a sufficient warning of adult content at the beginning meant that everyone just agreed that anything could be said and they wouldn't try to ruin your life for saying the n word.
Really, that’s what you got out of this? He quoted someone...what need would you have to use such a vulgarity?
manicmandownup bipolar 1- there’s never a time to utter such a thing so casually. He doesn’t get to. He did and he shouldn’t have.
Austin Earley good point
If he’s quoting someone and not using the word viciously or maliciously quit crying about it. It’s dumb dumb, SJWs like you all that turn nothing into a catastrophic event...for real QUIT CRYING SNOWFLAKES.
I doubt he used the hard R in the real quote
I put 4 kids thru college as a dealer, the product literally sells itself as long as you don’t mess with its quality.
That's a concept I never considered until you mentioned it and I'd like to thank you for sharing it. The very point of police is to protect community; and what else are these, what we call 'gangs' doing, other than protecting themselves and trying to get by? The U.S. was pretty much built for community; so it might just pose the question, should our communities, instead of putting away gangs, open opportunities for them? Understanding could be worth more than the general public gives credit.
It was not made for community or whatever. What???
its so rare to find a good tedtalk nowadays
acovarrubias12 I signed up for TED emails and every week I get berated with nonsense about what we can do to close the wage gap and why white people are ruining the earth.
look at how trump is telling the US to burn more coal.
a white people are not ruining the earth. If anything it’s the elites. Don’t group everyone together
Thomas Middleditch?
borderline creepy resemblance
here i was thinking i was the only one
"Thomas Middleditch"
When you stop watching halfway in lol
Slightly prejudice angle, but generally correct. He elaborates the topics to be entertaining and clever, which leads people astray from the facts.
I have childhood friends whove climbed the drug ladder, and in the initial stages, they still live with mom for the same reason college kids returning home do, but with a twist.
#1 no credit + laundering law = cant rent/buy anything nice under real name, yet. This raises suspicions.
#2 building aliases + carefully saving up for real estate / auto.
Mcdonalds and drug dealing; two most popular jobs for teenagers nowadays
Would you please get off the internet?
I knew people at Mac Don's that did both.
You must not have been working hard as a teen.
My brother flipped burgers at McD’s for several years. Now he’s a chief Medical Examiner. I used to work at Dunkin Donuts now I’m a scientist. Neither one of us ever dealt or used drugs. Not too shabby. Eh?
The should rename MD the Shabby shack ..
What a staunchy opening statement.
And how many people looked at the view count and thought 'I wonder how many crack dealers living with their moms clicked on this to find out how to get out of their house and be more profitable'..? Just me?
i have such a crush on Steve Levitt!!
The thing that shocks me more than anything else in the video, is the laughter - the quality reminds me of mild amusement, laughing at something very distant. Is that just me? The interpretation that comes to mind first is that they see black folks as the Other, not as "the same but different," separate, people from another world. Gang member is a subset of that group. So there's a lack of empathy, and the spirit of the talk is light-hearted. I may be adding my own interpretation to this, but I am sure, at least, that the speaker and his audience are somewhat detached and not expressing deep concern or feeling great pain for those reverted to in the talk.
What is that about?
*they were a bunch of rich white people back in 2003. Of course they were unempathetic*
contexually it is presented as a joke- likely because it is an awkward subject, but yeah I agree with you. There is an a perpetuation of the feeling of an "other," and that is not benificial.
Impressed. Why was I not shown this in 6th grade?
Fantastic speech
So basically you get the pay of someone working at McDonald's and the death rate of someone eating at McDonald's. Man that's a raw deal.
TH-cam, why am I just hearing about this now?
One of the best TED talks ever.
Cultural and economic restrictions do play an exaggerated role in the choices of poor, inner-city youths. Someone who has never had appropriate behavior modeled for them is unlikely to have any idea how to behave appropriately. Understanding the factors in a bad situation is not the same thing as condoning that situation.
In stand up comedy they call that last 45 seconds a "great closer"
Corporate America and it's double standard> We can sell drugs but dont you dare do it yourself! So just register yourself as a drug dealer and pay taxes then you are good. play by the rules until you get enough power to change them. real talk
Your problem is with government not Corporate America. Big business is just playing around the rules the government sets. Your objective should be to get government out of the drugs not corporations.
+Greoric M I can agree with that
lobbyists influence government policy, and they aren't working for the populace
Steven Fry
The origin of corruption is first with government though. If they didn't have the influence to doll out favors then lobbyists wouldn't be lobbying them.
Greoric M True, ,lacking ethics and morality on both sides of the ballot
This video just won the TH-cam Algorithm Lottery.
Nobody in 2019:
TH-cam Algorithm: You get a recommendation, and you get a recommendation.
Everyone gets a recommendation!
he didn’t say “the N word” he repeated a quotation from another person that said it. in the immortal words of Joan Rivers... “oh, grow up!”
true in certain circumstances. crack hasnt been in, now if you selln heroin/feynt ur rich AF. business minds make over 200k depending on area
2024 watching this ? 🫣
That was BRILLIANT!
The Weak & Shit principle of pay structure theory. ONLY Steven Levitt would be able to articulate that.
Im gonna reverse his statement: why is mcdonals such a crappy job that you have to moonlight as a drug dealer?
The smart ones have a job so the IRS and local cops don't question how you have things that cost money, and it gives them an opportunity to network and increase their customer base.
It’s fun you get to have guns and you have a feeling of power in a gang
@K W Who makes an entire buisiness model on child labour?
@@Boredperson360 nike
@@Boredperson360 and every other corporation?
Great video, and no idea why this is being recommended now!
15 minutes? That some good crack. 5 min tops
Don't underestimate the human need for identity. In Norse Greenland, the people began to run out of food after cycles of cold growing seasons. Rather than abandon the pastoralism and instead learn how to hunt for ringed seals from the native Inuit, they said 'we are Christian, European, and Norse. God forbid we should ever do anything to copy the savages!' The Norse then promptly starved to death, in the face of abundant food supplies, rather than lose their self image as European beef eaters.
I watched an Andrew Yang interview and this was recommended. I agree the recommendation is a bit weird - maybe TH-cam thinks I'm into smart people?
Needs to be on Joe Rogan!
Ahhh 240p. We meet again
I'm so glad that I found this TEDtalksdirector channel. These are some of the most interesting videos I've seen in a while. I've been stuck in all these alternative history/religion/conspiracy videos for a while (esoteric new age black supremacy videos are the strangest of all). This is a breath of fresh air.
Educational
Depressing
and hilarious
Awesome
we don't get paid for any specific brand of drug. we get paid for treatments provided. yes, prescription drugs need doctors to sign off on their distribution, but we could care less about the profit that comes from any such distribution (your average doctor, not the ones with stocks in a drug company). The OP suggested we are drug "dealers." We are as much drug dealers as we are wheelchair/prosthesis/cast/braces/lenses/exercise-rehab-plan dealers.
gangstanomics 101
It's not '#1' - it's at the top because it is 'featured'. TH-cam says, "Featured Videos are not advertisements or paid placements, BUT DO feature content from partners with whom we have a commercial relationship." (Emphasis mine.) Operative words in this sentance: 'commercial relationship'.
Dang it! Will you guys over at TED please turn the intro music down?
This was phenomenal!
Very very informative.
amazing to see how mcuh people´s perception of this have changed in a bunch of years. The comment section is full with recent comments about people being offended and triggered by this, its crazy
I went through the entire book Freakonomics, it was interesting. The one comment he made about the gang members not having any opportunity and thus joining the gang was the right decision, was a completely immoral and ludicrous statement. You could borrow a quarter take a bus and work at McDonald’s in another city and not have to dodge bullets.
I don't know..he makes some valid points. But I have to say, Being from Baltimore...and working in clubs where gangs frequented, drugs were indeed profitable. And yeah, they paid the price, in more ways than just busts...I like Steven Levitt...he is a bright intelligent person..but a bit off base here. On some of the "facts".
I know that this guy means well, and I respect his academic curiosity and integrity. That being said, it really made the hair on the back of my neck stand up hearing the way he talked about black people in gangs- almost like they’re a different species. I give him the benefit of the doubt; it was probably just a style/tone decision that’s affecting my opinion. Wondering if anyone else had a similar experience watching this.
A dude tried to scratch "THUG LIFE" into the mirror in my cell with a button on his jump suit but it came out looking like "THUG LITE"
First time I'm seeing him. Been listening to Freakonomics for years...! Here goes nothing!
I love Freakonomics, but when I pictured him when he said "I went inside the gang" it made me chuckle
Street corner crack dealing is only one type of drug dealing. There are dealers that operate in social circles that dont have to worry about rival dealers or their bosses and never go near ghettos.
In other words, corporations are gangs...
Or conversely that gangs are just another corporation
There's a certain tried and true structure to any efficient organisation. It doesn't matter if it's a company or a gang, and it doesn't really matter where the revenue comes from. That's just how the dominoes fall eventually, and not just under a Capitalist system. You had very similar structures in the USSR , with slightly different names for the roles, but the structures were there.
@@pkatz80 well said
Yes but they are able to kill way more people!
To say that obesity is caused DIRECTLY by consuming McDonalds is extremely off base and disowns those who are obese of any wrongdoing on their part. I used to be obese 6 years ago, and then made a conscious effort on my part to lose weight because I realized it was my fault. I still love fast food, but have maintained a healthy body weight ever since.
freakonomics is such a good book!
I find it amazing how all through school the use of profanity is the ultimate disgrace when presenting or in a corporate environment, but then you grow up and see that everyone does it and its normally worse at the highest levels lol.
2:20 Is this Walter White in his younger days?
great book i read for a sociology class "robbing drug dealers"
I will stop you there , in England we had a heroin pandemic ,the dealers only turn up because theres a need for the user , the reason theres a user is mental illness or lack of confidence , I had a dealer who took all my money of me when I had a habit,when I got straight and saw him he started crying,I said don't cry you were my doctor , I ordered you to go and get me drugs
Karl Meadows Different drug, different situation.
So agreed, I live in a Shire and there's a massive homeless and Heroin problem, there's so few services to help these lost souls.
@20:10 Am I wrong in pointing out that a game where the gangs DON'T shoot has NOT reached Nash equilibrium. There is still a move a gang can make to maximize their profit assuming no reaction from the other gangs.