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The Economics of Crime by Zagros Madjd-Sadjadi

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Preface

Economics students often emerge with a clear grasp of theory, but little ability to apply it, especially in microeconomics. They leave with a model they believe is relevant solely to market mechanisms, when it actually is one suited for inquiry into all avenues of rational choice. At the same time, there is a popular conception that criminals are deficient in some psychological, physiological, or sociological aspect that means we need to either lock them all away or fix the “root causes” of their social deviancy. Neither is a entirely satisfactory response to crime.

Workers, employers, and managers have a stake in effective public policy designed to reduce criminality. According to the Institute for People with Criminal Records, approximately ...

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