The Economics of Crime (Paperback)

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The Economics of Crime (Paperback)

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Too often students in economics emerge with a clear grasp of theory, but precious little ability to apply that theory, especially in the area of microeconomics. They are left with a model that they believe is relevant solely to market mechanisms, when it is in fact suited for inquiry into all avenues of rational choice. At the same time, there is a uniform belief that criminals are plagued by psychological, physiological, or sociological deficiencies that can be remedied only through incarceration or institutionalization. Neither formulation is satisfactory as an exemplar to the general population about how they should be thinking about crime. Workers, employers and managers alike have a stake in effective public policy designed to reduce criminality. According to the Institute for People with Criminal Records, approximately 3% of the US population will be in jail or prison for at least one day during any given year, and nearly 30% of the population has a criminal record. Yet, having a criminal record often serves as a bar to employment and leads individuals who have paid their debts to society on a pathway to recidivism. Thus everyone, from managers in companies considering whether to bar felons from employment to individual voters considering felony disenfranchisement laws, needs to understand how rational criminals act and think. This book will attempt to guide readers to such an understanding. By understanding how incentive mechanisms affect criminal behavior, business managers may use this information either to reduce criminal activity in their own enterprises or to understand how unethical business decisions affect the wider society. As we always do in such circumstances, we must make sacrifices to balance the competing interests.
Zagros Madjd-Sadjadi is professor of economics, master of healthcare administration program coordinator, and former chair of the Department of Economics and Finance at Winston-Salem State University. He was the first chief economist of the city and county of San Francisco and is the author of the companion Business Expert Press book, The Economics of Crime. He has written papers published in top academic journals in economics, political science, international relations and criminal justice. Dr. Madjd-Sadjadi has a BS degree in computer science and a BA in economics from Sonoma State University. He holds a PhD in political economy and public policy from the University of Southern California and is a former Occidental Petroleum Canada-United States Fulbright Scholar to the Institute for Intergovernmental Relations at Queen's University in Kingston, Ontario.
Product Details ISBN: 9781606495827
ISBN-10: 1606495828
Publisher: Business Expert Press
Publication Date: November 1st, 2013
Pages: 206
Language: English