Analysis Of Conventional Wisdom By John Galbraith

Superior Essays
John Kenneth Galbraith talks about “conventional wisdom.” He says, “people associate truth with convenience. He describes conventional wisdom as something that is comforting and convenient and doesn’t necessarily need to be true information.
Galbraith also describes advertising as a brilliant tool for creating conventional wisdom. For example, Listerine, created in the 19th century was originally a surgical antiseptic tool began being sold as a distilled form and used for a floor cleaner and also later found out that it was a cure for gonorrhea.
A point of conventional wisdom that is discussed in this article is that drug dealing, crack dealing is one of the most profitable jobs in America! A student named Sudhir Venkatesh with his
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Working below the officers were the street level salesmen know as foot soldiers. The goal for them someday was to hopefully become a leader like J.T. J.T has anywhere from between 25 foot soldiers and 75 foot soldiers at any given time depending on the year. There were another 200 hundred others below them yet known as the rank and file, they were not by any means employee’s they did however pay dues to the gang so eventually they could become part of the gang someday and also be protected from other gangs. Business at the time was excellent. J. T’s franchise quadrupled its revenues during this period. The first year they took in $18,500 and towards the final year $64,400 a month. The money they made only represented the crack cocaine nothing else. The gang did allow some of the ranks to sell heroin as well. During the crack boom J.T.’s branch brought in $32,000 in monthly revenues. J.T was paid $8,500 per month, making his annual salary $100,000a year which was tax free money. The board of directors were making $500,000 per year. Everyone from J. T’s level to the board of directors could allow to live large and have whatever they wanted. Everyone that was below them couldn’t do anything because of the little money they made. J.T paid his foot soldiers around him $9,500 a month and the officers got $700 dollars a month. They were only paid $3.30 an hour if you think about that, it way below minimum wage. The conventional wisdom is that all drug dealers make a lot of money. You must be at the top of the gang to make a long of money. J.T said that he kept his wages low for the foot soldiers because in was a way to show them who was the boss. Foot soldiers risk their lives every day with arrest and from violence with other gangs or other people. They went day by day with 1 of 4 chance of being killed. They still took the chance because they were always hoping for the chance someday to maybe

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