Economics of crime and punishment

The recent arrest of the so called Bali Nine for allegedly trade heroin into Australia (Powell & Carroll 2005, online) has establishd controversy and created rifts between Australian and Indonesian relations. Resulting to a death penalty through firing police squad if found guilty, what instigated these people to participate in this iniquitous natural action? There be three approaches dominate the theories of discourtesy - psychological, sociological and sparing (Fadaei-Tehrani & Green 2002). As for the Bali Nine, we will take that an individuals lack of money is not the prime gene that develop acts of crime, as there ar separate factors behind these acts (Rubenstein 1995). The centerfield of this probe is to discuss the economic approach to crime and analyse whether economic theories can be applied to society in exhibition to reduce crimes. We will use the subject of illegal drugs in Australia as an example of crime to illustrate our arguments. Gary Bec ker was the source economic expert to apply economic theory to analyze distressing communication channel (Rubenstein 1995). An economic approach would take into account the pass ideal damages against expected benefits of committing a particular crime, assuming criminals are rational persons acting in their own self interest. Criminals lucifer the cost of crime in two parts: the chance cost of committing a crime and the time expected to be jailed because of their activity. Before committing a crime, criminals analyze its opportunity cost. The opportunity cost is the income foregone by devoting time to criminal activities. In other words, it is the rate of return on legal food market activity (Rubenstein 1995). The opportunity cost of an individual committing a crime is dogged by various factors in the economy (Rubenstein 1995). sensation factor is the unemployment rate given that it determines the chances of employment. The levels of real wages as well... If you wish to ! get a full essay, order it on our website: BestEssayCheap.com

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