It's almost a truism that better-educated people earn more money. But suppose you're not interested in a normal job? What if you want to go into the mafia? Well, it turns out that you should still stay in school. On this week's Odd Lots podcast, we speak with Giovanni Mastrobuoni about the relationship between salary and educational attainment in organized crime. He's the co-author of a paper titled "Returns to Education in Criminal Organizations: Did Going to College Help Michael Corleone?" Based on data sets from the first half of the 20th century, Mastrobuoni and his colleagues were able to show that mafia members who got more education also got paid more in the underworld. We discuss how they discovered this, and what it means for the economics of education.

It's almost a truism that better-educated people earn more money. But suppose you're not interested in a normal job? What if you want to go into the mafia? Well, it turns out that you should still stay in school. On this week's Odd Lots podcast, we speak with Giovanni Mastrobuoni about the relationship between salary and educational attainment in organized crime. He's the co-author of a paper titled "Returns to Education in Criminal Organizations: Did Going to College Help Michael Corleone?" Based on data sets from the first half of the 20th century, Mastrobuoni and his colleagues were able to show that mafia members who got more education also got paid more in the underworld. We discuss how they discovered this, and what it means for the economics of education.

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Tuesday and Thursday for interviews with the most interesting minds in finance, economics and markets.

Odd Lots

On Bloomberg’s Odd Lots podcast Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets, and economics. Join the conversation every Monday and Thursday. 

On Bloomberg’s Odd Lots podcast Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets, and economics. Join the conversation every Monday and Thursday.

64: Stay in School, Even if You’re Planning to Join the Mob

64: Stay in School, Even if You're Planning to Join the Mob

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/7d312b51-269e-41ef-a41d-ae27005df7b6/transcript

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