Word: freakonomists
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...addiction leads to a highly inelastic demand curve. Imagine all the tax money that would be saved with all the newly found time on the hands of the Harvard University Police Department—free to double its force for the next Lamont party.There is only one problem. As Freakonomist, University of Chicago professor Stephen Levitt has pointed out, your average street hustler earns less than the minimum wage. Employees who serve the Harvard community should be doing better than that. If we legalize drugs, drug dealers will have to be paid a minimum wage, if not the living wage...
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