Unless you’re in a mafia clan, we all want to see crime come down. But different people approach that in different ways. Economists like to think of criminals as getting out their calculators to see if crime pays, so they focus on the impact of deterrence: increasing the severity of punishment or the likelihood of being caught.
Unfortunately, deterrence doesn’t do a great job because criminals don’t care enough about the future to pay much attention to jail terms. And of course everyone knows that reducing crime goes beyond more police or prisons – it’s about people’s roles in society.
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