Narconomics
Narconomics = Narcotics + Economics. A term denoted to convey possible management lessons learned from Mexico’s drug lords. For a country with an economy brought to its knees in 2009, it should be surprising to learn that Mexico still houses 11 billionaires. Well, perhaps not too surprising in the light of their thriving drug trade industry. El Chapo, for instance, is one of Latin America’s most successful exporters, having made around $1 billion as chief executive of the Sinaloa drug “cartel”. With that said, things have not been easy for the cartels lately, thanks to a declining American appetite for drugs. But despite this fact, guys like El Chapo has managed to weather the American recession rather well. The Economist’s Schumpeter went to the desert to see what lessons Mexico’s narcotics traffickers might offer to other businesses…
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