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ECON 1240 Lecture Notes - Lecture 1: Burglary, White-Collar Crime, Assault

United States

Economics of Crime

Economics

Neil Alper

Northeastern University

Economic History of the Middle East

Managerial Economics

The demand for illegal drugs is inelastic. Much of the expenditure on illegal drugs comes from crime. Assuming these statements to be correct, What will happen to the amount of crime?

Use economics to compare three ways to reduce the demand for heroin: (i) the substitution of another, less dangerous, and less debilitating drug, such as methadone for heroin, to registered addicts; (ii) the free availability of the illegal substance to registered addicts; and (iii) a legal prescription on use, which is the current policy.
If expenditures on preventing crime equal $200 billion and the costs of crime to victims equal at least $300 billion, could the United States save $500 billion by abandoning all efforts to prevent crime?

Which criminological theories best explain the crimes of larceny, white-collar crime, and illegal substance use?

ECON 1240 Lecture Notes - Lecture 1: Burglary, White-Collar Crime, Assault

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