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Science Quickly

Bookish Mobsters Made Better Bookies

Science Quickly

Scientific American

Science

4.41.4K Ratings

🗓️ 29 October 2016

⏱️ 2 minutes

🧾️ Download transcript

Summary

Just as with honest jobs, mobsters with a more advanced education made more money than their less educated counterparts. Erika Beras reports. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This is scientific Americans 60 second science. I'm Erica Berris. Got a minute? Turns out education pays off. That's true whether you're a doctor or a lawyer or even a mobster, according to a new study.

0:16.0

Researchers compared the FBI files of more than 700 Italian-American mafia men from the 30s to the 40s to

0:22.2

other non-Mob men from the 30s to the 40s to other non-Mob men from the 1940 census.

0:25.0

Some were neighbors, others were first and second generation Italian American immigrants,

0:30.0

and some were US-born white men.

0:32.0

They found that mobsters tended to have a and some were US-born white men.

0:32.8

They found that mobsters tended to have a year less of schooling

0:36.0

than their neighbors.

0:37.2

But for those who stayed in school a little longer,

0:39.6

they tended to do better economically.

0:42.0

More education increased their income or mula by about 8%

0:46.4

on average. The study is in the economics of education review. Of course this shouldn't

0:51.9

be surprising. The mafia is essentially a corporation involving

0:56.0

complex organizational and numerical expertise. Wayne Graham's and running numbers takes more

1:01.6

than basic math skills and

1:03.0

researchers found that mobsters with the highest return

1:06.4

were the ones involved with more complicated schemes.

1:09.4

Think embezzling, racketeering, and loan sharking. Their profit was about three times higher than

1:15.4

the mobsters involved with criminal activity, like robberies. So, study up. No matter what

1:21.1

you plan to do, it seems like the more you study, the bigger the payoff,

1:25.0

even if you ain't nothing but a wise guy.

1:27.0

Thanks for the minute.

...

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