Marginal Deterrence is one of the most important messages from the economics of crime. Explain the role of marginal deterrence and its practical applicability

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Miscellaneous

 

Written by:

Nicole D

 

Date added:

August 7, 2013

 

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Grade:

A

 

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8 / 2210

 

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Looking at figures of this type do not show the relevance of economic techniques, i.e. marginal deterrence, which was first introduced by Stigler in 1970. This paper has taken a comprehensive, but limited view on the relevance of economics and crime. Economics can have controversial ideas, and this can be expressed in terms of crime...
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Economic theory would suggest that there is an ?optimal level of crime'. As Stigler (1970) argues, ?there is one decisive reason why society must forego ?complete' enforcement of the rule: enforcement is costly.' The extent of enforcement of laws depends upon the amount of resources devoted to the task...
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