Podcast
Questions and Answers
What does 'Conventional Wisdom' accord with?
What does 'Conventional Wisdom' accord with?
Who is Sudhir Venkatesh?
Who is Sudhir Venkatesh?
A researcher who pursued his PhD at the University of Chicago and studied poverty.
What did Sudhir Venkatesh find in a poor neighborhood of Chicago?
What did Sudhir Venkatesh find in a poor neighborhood of Chicago?
The Black Gangster Disciple Nation.
Who is J.T.?
Who is J.T.?
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Match the different roles of the gang with their descriptions:
Match the different roles of the gang with their descriptions:
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What is the salary of Foot Soldiers in the gang?
What is the salary of Foot Soldiers in the gang?
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What is the salary of Officers in the gang?
What is the salary of Officers in the gang?
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What is the salary of the Leader in the gang?
What is the salary of the Leader in the gang?
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What is the annual revenue of the gang?
What is the annual revenue of the gang?
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How do drug dealers' wages compare to McDonald's workers?
How do drug dealers' wages compare to McDonald's workers?
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What is a 'Tournament' in the context of gang hierarchy?
What is a 'Tournament' in the context of gang hierarchy?
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Why do many drug dealers still live with their moms?
Why do many drug dealers still live with their moms?
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Study Notes
Conventional Wisdom
- Defined as aligning with self-interest and personal well-being while avoiding unnecessary effort or disruption in life.
Sudhir Venkatesh
- Pursued a PhD at the University of Chicago, focusing on poverty studies.
- Discovered the Black Gangster Disciple Nation while researching a poor Chicago neighborhood.
- Initially struggled to gather data through questionnaires but became fascinated by the gang's lifestyle.
- Spent six years living among gang members, viewing drug dealing as a business.
J.T.
- Leader of the crack gang, educated with a business degree, and a college graduate.
Different Roles in the Gang
- Rank and File: Unemployed members awaiting advancement.
- Foot Soldiers: Street-level dealers working their way up.
- Officers: Key roles including enforcer, treasurer, and runner.
- Leader: The highest authority within the gang.
Rank and File
- Composed of unemployed individuals, loyal to the gang, aspiring to become foot soldiers.
Foot Soldiers
- Estimate: 25-75 members.
- Role: Street-level drug sales with a modest annual salary of $1,184.
Officers
- About 3 members fulfill this role.
- Responsibilities include safety enforcement, financial management, and transportation.
- Report directly to J.T. with an annual salary of $8,400.
Leader
- Singular position responsible for managing gang members and financial distribution.
- Earns an annual salary of $100,000.
Annual Revenue of Gang
- Total revenue generated by the gang is $384,000.
Drug Dealer vs. McDonald's Worker
- Earnings of drug dealers vary based on rank, similar to pay differences among McDonald's employees.
- Drug dealers: Foot soldiers earn low (like burger flippers), leaders earn much more (like franchise owners).
Tournament Concept
- Members must enhance their skills to advance within the gang's hierarchy, resembling a competitive tournament.
Living Situations of Drug Dealers
- Many drug dealers lack sufficient income to afford independent living, often resulting in them living with their mothers.
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Description
Dive into the intriguing concepts discussed in Chapter 3 of Freakonomics. This quiz explores key terms such as 'Conventional Wisdom' and the insights of Sudhir Venkatesh regarding drug dealers and their living situations. Test your understanding and grasp of the material.
