At TED in 2004, Steven Levitt, the University of Chicago economist and co-author of Freakonomics, analyzes the economics of the street-corner crack trade. Contrary to popular belief, the “corner boys” make less than minimum wage — for a job with a higher mortality rate than death row. The Freakonomics blog is also worth a visit.

Tags:   crack · drugs · Steven Levitt · TED talks · video