Crime and the Economy

Paper Summary:

This paper examines three different types of crime. The author argues that at least two of the three should be addressed via preventive rather than punitive means. The paper suggests that a smarter rationing of state funds can greatly limit the overwhelming expense of American crime upon the American taxpayer.

From the Paper:

"Crime has long been - and undoubtedly will remain - a chief preoccupation of Americans. Personal safety and security is at or near the top of every citizen's concerns, and a society in which people do not feel safe is a society in danger of imploding upon itself. Understandably, because this is an economics course and not a survey course in sociology, this paper will focus upon the impact of crime on America's economy. In particular, this paper will examine the impact of three types of crime - drug-related crime, violent crime, and white-collar crime - and their affects upon the American economy and suggest that their deleterious impact is exacerbated, not diminished, by our public policies vis-a-vis crime and punishment. In the final analysis, America must change its attitude towards criminal punishment if it is to ameliorate a situation that promises only to grow worse."

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