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The Economics of Crime by Zagros Madjd-Sadjadi

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Introduction: Why Should Businesspeople Care About Crime?

The cost of crime is staggering. Nearly 1% of all Americans are currently in jail or prison and about twice that number are under probation or parole. In the United States, as high as 10% of the population has committed a felony. Felony disenfranchisement laws can bar a person from ever voting again in some states while businesses may ask potential employees about prior convictions. Smoking marijuana, betting on a Celtics game (except where gambling is legalized), viewing obscene material over the Internet, or having one too many drinks before getting in a car can mean, under 3 strikes provisions, a life prison sentence for someone with prior felony convictions. Spending on prisons, lost ...

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