Does the drug dealer actually make more than the firefighter because people are willing to pay more for what the drug dealer provides? One might argue it as much about the number of transactions. If that firefighter could work more fires each day, would his value increase? And what about the 40-hour workweek, something the drug dealer isn't limited by? What about the added value of healthcare, vacation time, pension contributions, all of which the dealer cannot take advantage of? It's a great philosophical discussion.
> On average, street dealers make less than $2500 per year. Even though they only work approximately 20 hours per week, their pay level is still far below the minimum wage.
Found this from a the Google search "drug dealers earn minimum wage research". I recall reading about interesting research about how most low level dealers don't actually do that many trades per a day nor do they make large trades. Eg, Imagine make 100 trades each year on the side and each one is only $20. Of course there are larger scale dealers (say distributors) that can make a single large trade to such a person and clear ($2000 - $500 bulk discount) for $1500. Yet the person paying $1500 annually for product, actually has to make 100 in person transactions and among the client base just to clear $500 of actual products.
The specific economics depend on the profit margin of each trade and I recall 2000-era trading involved a lot of customization. There was even popular media about the range of different deals that a single drug dealer could do for you. Eg, if you wanted a personal amount for $20/mo, then you could save money by just instead buying a years supply for $150. The savings are 12 mo *$20/mo - $150 = $90. Moreover, if you had a few friends buy $20 occasionally then could even make money by always having $50 in single easy to use joins for just $5 each.
Yet people have to be careful to monitor the profit margin of each trade to ensure it was worth their effort. Eg, you wouldn't want to drive all the way to you friends house just to sell a single $5 joint. You could easily spend more in gas.
Obviously the Amazons and the Walmarts of heavily optimized drug marketing, distribution, and retail could clear millions and have an estimate empire that is growing fast enough to be worth billions. In many places they'd be able to help the government solve some serious, violent break away groups. In fact, in traveling to Colombia 4 times between 2011 and 2016, I learned increasingly more about this from fairly well educated business professionals (running actual legitimate businesses) in stories they described as "How Colombia beat the FARC using the cartels".
You take the execution of drug dealers in some countries as proof that the market for drugs in those countries has "dried up." I take is evidence that it hasn't. Ditto for your suggestion that morality rather than the market determines the income of drug dealers in those countries.
What makes work valuable? And valuable to whom? It seems labor can’t be the answer since no amount of physicality can create a vaccine, steel, or even the discovery of fire. This seems to suggest that a certain mental orientation /thought process about the materials in reality gives things value to the individual doing said work. This seems particularly important since we are talking about human beings, who essentially have to use their minds to direct the actions of their muscles.
The movie McClintock (1963 or 1964) has a great line in it. John Wayne (who else?) plays a wealthy 19th century rancher whose spread covers a huge part of Arizona. He hires a new hand who is nonetheless ashamed to have to work for someone else. Wayne counters with "hell! We all work for someone else. Every time someone buys a steak, I'm working for him." Great line!
Does the drug dealer actually make more than the firefighter because people are willing to pay more for what the drug dealer provides? One might argue it as much about the number of transactions. If that firefighter could work more fires each day, would his value increase? And what about the 40-hour workweek, something the drug dealer isn't limited by? What about the added value of healthcare, vacation time, pension contributions, all of which the dealer cannot take advantage of? It's a great philosophical discussion.
> On average, street dealers make less than $2500 per year. Even though they only work approximately 20 hours per week, their pay level is still far below the minimum wage.
Found this from a the Google search "drug dealers earn minimum wage research". I recall reading about interesting research about how most low level dealers don't actually do that many trades per a day nor do they make large trades. Eg, Imagine make 100 trades each year on the side and each one is only $20. Of course there are larger scale dealers (say distributors) that can make a single large trade to such a person and clear ($2000 - $500 bulk discount) for $1500. Yet the person paying $1500 annually for product, actually has to make 100 in person transactions and among the client base just to clear $500 of actual products.
The specific economics depend on the profit margin of each trade and I recall 2000-era trading involved a lot of customization. There was even popular media about the range of different deals that a single drug dealer could do for you. Eg, if you wanted a personal amount for $20/mo, then you could save money by just instead buying a years supply for $150. The savings are 12 mo *$20/mo - $150 = $90. Moreover, if you had a few friends buy $20 occasionally then could even make money by always having $50 in single easy to use joins for just $5 each.
Yet people have to be careful to monitor the profit margin of each trade to ensure it was worth their effort. Eg, you wouldn't want to drive all the way to you friends house just to sell a single $5 joint. You could easily spend more in gas.
Obviously the Amazons and the Walmarts of heavily optimized drug marketing, distribution, and retail could clear millions and have an estimate empire that is growing fast enough to be worth billions. In many places they'd be able to help the government solve some serious, violent break away groups. In fact, in traveling to Colombia 4 times between 2011 and 2016, I learned increasingly more about this from fairly well educated business professionals (running actual legitimate businesses) in stories they described as "How Colombia beat the FARC using the cartels".
You take the execution of drug dealers in some countries as proof that the market for drugs in those countries has "dried up." I take is evidence that it hasn't. Ditto for your suggestion that morality rather than the market determines the income of drug dealers in those countries.
"take it as"
What makes work valuable? And valuable to whom? It seems labor can’t be the answer since no amount of physicality can create a vaccine, steel, or even the discovery of fire. This seems to suggest that a certain mental orientation /thought process about the materials in reality gives things value to the individual doing said work. This seems particularly important since we are talking about human beings, who essentially have to use their minds to direct the actions of their muscles.
The movie McClintock (1963 or 1964) has a great line in it. John Wayne (who else?) plays a wealthy 19th century rancher whose spread covers a huge part of Arizona. He hires a new hand who is nonetheless ashamed to have to work for someone else. Wayne counters with "hell! We all work for someone else. Every time someone buys a steak, I'm working for him." Great line!