Earnings of Low-level Drug Dealers

This paper develops statements of theory, research question, hypothesis, and suggested method for an investigation to explain the earnings of low-level drug-dealers. This paper is based on Chapter 3 ("Why Do Drug Dealers Still Live with Their Moms"?) of Freakonomics (Levitt & Dubner, 2005).

The price of labor (factory worker, high-tech professional worker, or low-level drug dealer) is determined primarily by the interaction of the aggregate supply and the aggregate demand curves for the skills being sought (McConnell & Brue, 2001). Until relatively recently, labor supply and labor demand curves tended to be based on regional or national markets. Thus, labor price was equated with equilibrium in these regional and national labor markets. Globalization, the 900 pound gorilla that everyone is tired of hearing about, however, expanded labor market definitions. For many well educated and highly skilled workers today, labor price is determined by the

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Approximate Word count = 692
Approximate Pages = 3 (250 words per page)