Estimates of the cost of crime as well as punishment that follows has draws the interest of economic analysts across the globe. Of the essence will be the understanding the cost of crime and punishment across the globe on an economic approach. A research conducted by (Dickens) reports that crime such as crime against property, reduces investment of an individual as well as wastage of quality time of a criminal that could be used meaningfully in building the nation on a positive approach. If such crimes are repeated the investors will shy off doing business in a particular location. An approach given by Becker 1968 unveils the economic approach on crime and punishment as it reports that crime committed by individual often raises the expenditure of any state. The legal procedure that begins from investigation to confirmation of a crime committed, will and has continuously eaten into the taxpayers’ money. Consequently, the punishment of an offender in return robes off the nation a potential taxpayer as well as a labor source (Backer). The individual punished in the case of jail sentence becomes a liability to the state because extra expenditure is used in kipping them in surveillance. Backer adds that extra expenses are used by the state as well as quality time of the police, jury and judges in determining a legal action for an offender. This is because a single case may last days to come to arriving at passing judgement.
Summary of Economics of Crime and Punishment
Crime committed in every state has to go through a legal process to determine the nature and type of crime committed by the accused. Therefore, different crime comes with a different cost to be met, this, therefore, means that the cost of crime varies from one to another. Crime and punishment, therefore, becomes an integral part of the economy due to the expenditure put forward by the law enforcers to see to it that justice is served and not denied to the complainant (Levi, 76).
In a report, the cost of crime is estimated to be above four million dollars in the United States, and such crimes include murder, assault and robbery. On the other hand, crimes such as burglar alarm and guards among others were estimated to be about two million dollars. This estimation was done to include the entire law enforcement process that begins right from the police, the counsel and the criminal court system that have to include in their routine some spending in bringing a crime offender into justice (King, 127).
Taking some white-collar crimes such as tax aversion has both economic and judicial sides. Economic phase is the failure for a citizen to contribute to the states account yet the citizen uses the States service while, on the judicial side, the citizen shall have committed a crime for failure to pay his or her tax which should be paid by every citizen of the country. The punishment may be in the form of jail term or compensation for the crime done (Munk, 155).
Becker, Gary S. “Crime And Punishment: An Economic Approach”. Journal of Political Economy 76.2 (1968): 169-217. Web.
Dickens, William T. “Crime And Punishment Again: The Economic Approach With A Psychological Twist”. Journal of Public Economics 30.1 (1986): 97-107. Web.
King, P. “Book Review: Crime And Punishment: A Sourcebook”. Punishment & Society 5.1 (2003): 126-128. Web.
Levi, Michael. Regulating Fraud (Routledge Revivals): White-Collar Crime and the Criminal Process. Routledge, 2013.
Munk, Bernard E. “Crime and Punishment.” Disorganized Crimes. Palgrave Macmillan UK, 2013. 150-160.
Ruggiero, V. “Book Review: Crime And Punishment In Contemporary Culture”. Punishment & Society 7.1 (2005): 104-105. Web.