Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

The Economics of Crime and Capital Punishment - Essay Example

Comments (0) Cite this document
This essay “The Economics of Crime and Capital Punishment” describes the economics of crime, and capital punishment using the common economical view. It also focuses on four articles explaining their importance in the study of the effect of crime on the economy…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER94.3% of users find it useful
The Economics of Crime and Capital Punishment
Read Text Preview

Extract of sample "The Economics of Crime and Capital Punishment"

Download file to see previous pages  “The Economics of Crime” The economics of crime is the study of factors that cause crime and the consequences of criminal activities in the society as well as approaches towards the reduction of the criminal effects on the society. Economics of crime deals with the costs of criminal justice programs and policies and their benefits to the society. It also deals with analyzing market progress in regard to all activities associated with a crime like drugs, money laundering, and firearms, among others. Economics of crime still evaluates the effects of criminal activities on other aspects of life like healthcare, education, labor market, and substance abuse. “Capital Punishment” Capital punishment is a method of executing justice especially to offenders who have committed acute crimes like murder. It was highly practiced in ancient days, but later some people and courts found it unconstitutional and against human rights. There have been issues of debate on whether it should be abolished or it should continue, and this remains a major issue of concern. Many countries so far have abolished capital punishment for all crimes, though there are others that retain it. However, the practice has not proved to be the best in deterring crimes. People differ on the kind of crimes on which capital punishment should be accorded, and the issue remains unresolved. However, capital punishment has a number of effects on the economy of a country especially with the processes involved in administering justice to offenders, and its cost to the entire society. The Common Economic View The economics of crime and capital punishment go hand in hand in dealing with the economic issues. The economics of crime help in determining the cost a country incurs when administering justice to offenders. For example, the society uses public and private resources to prevent crimes and administer justice to offenders. The economics of crime helps to know the type and amount of resources used to give punishment to offenders. Capital punishment, on the other hand, affects the economy of a country to a greater extent. Administering punishment to an offender goes through a number of processes that involve the use of many resources mainly because of its passing through the different panels to justify the offender’s liability for capital punishment. Thus, it affects the economy widely and should be discouraged. Friedman’s Letter to Bill Bennett The main topic in this article is the use of law enforcement to control drug use in America. This letter is important because it talks about the cost incurred in fighting drug use in America (Friedman 85). Milton urges Bill that the direction they take off using more police, imposing harsh penalties for drug users, increasing jails, among other measures will not help in fighting drug abuse in America, but would rather worsen the current situation. Milton argues that the measures taken are only a source of major evils. Enforcing harsh penalties on drug users only increases disasters for both users and society (Friedman 86).  ...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
(“The Economics of Crime and Capital Punishment Essay”, n.d.)
The Economics of Crime and Capital Punishment Essay. Retrieved from
(The Economics of Crime and Capital Punishment Essay)
The Economics of Crime and Capital Punishment Essay.
“The Economics of Crime and Capital Punishment Essay”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF The Economics of Crime and Capital Punishment

Capital Punishment

Although the United States remains the only western country imposing the death penalty, the issue is subject to much public debate. Much of the debates surrounding capital punishment entail moral and ethical issues in the society as well as in the lives of individuals. This is because capital punishment involves a state-authorized termination to an individual’s life (Grover, 2011).
The perceptions of many people opposed to capital punishment rests on the value of life, and the wrongness in executing murder. These arguments take different forms including the deficiency of revenge as a motivation, the unreliability of the criminal justice system, an alleged racial prejudice in executions, a supposed lack of statistically confir...
8 Pages (2000 words) Research Paper

Capital Punishment

The Magisterium is the means of educating people or individuals about the Divine truths written within the Sacred Scriptures which is the divine Word of God. The Magisterium is associated with the Sacred Tradition and is regarded as the “unwritten truths” about faith and morals which can normally be expressed by the faithful in words. However, the Sacred Tradition cannot be actually based on any written or spoken words – so they are referred to as the unwritten truths that are usually used in the administration of the Magisterium; where teachings from the Sacred Scriptures are done (Conte). The last aspect often linked to the matter of capital punishment or the death penalty is Human Reason. Human reason is what separates a perso...
4 Pages (1000 words) Essay

Capital Punishment

...?Introduction Capital punishment is a debate on many levels – moral, legal, personal. The points raised range from whether the eye for an eye mentality is archaic to whether another human has a right to kill another just because one has committed a crime. These questions, and more, lead to the complexity of the death penalty debate. This paper will explore the moral reasoning for and against capital punishment, whilst taking into account two very different cases where the death penalty was used in the United States. The History of Capital Punishment The history of capital punishment is complex and diverse. The capital part of the nomenclature comes from the Latin word capitalis, which regards anything involving the head, and indeed early...
8 Pages (2000 words) Research Paper

Capital Punishment

... Capital Punishment Punishment for crimes which are deemed cruel and unusual is forbidden by the Eighth Amendment to the U.S. Constitution. This amendment is often invoked when discussing the legal merits of the death penalty. The use of the death penalty is considered by some to be the most obvious and heinous example of cruel and unusual punishment. Those opposed to capital punishment do not believe that the government should be vested with the power to put any of its citizens to death. Opponents also maintain that the practice is racially biased, overtly costly and does not achieve the intended outcome. Proponents believe it to be neither cruel nor unusual, on the contrary, they think it just and fair. The ‘eye for an eye’ group...
2 Pages (500 words) Essay

Capital Punishment

... Lecturer: presented: The judicial systems of many s use capital punishment as a way of deterring crime. However, this practice is being abolished, and many states have resorted to other ways of punishing offenders. The history of death penalty dates back in the 18th century B. C., with the highest number of executions occurring in the 16th century B. C. There was a marked reduction in the crimes punishable by death in the 18th century A. D. in the countries that practiced capital punishment. After World War II, campaigns against capital punishment were facilitated by the United Nations. Japan and the United States are some of the developed countries that are still practicing capital punishment. In Africa, Congo’s executions were rising...
15 Pages (3750 words) Essay

Capital Punishment

...Capital punishment broadly refers to ‘death penalty’ for the criminal as the only option for serious crime committed by him or her. The concept of punishment has evolved as a justified step making the criminal realize his act of omission and offense that is committed and also as an attempt to give justice to the person or people against whom it has been committed. The changing paradigms of the emerging new pluralistic society have necessitated the need to study the wider implications of punishment for the various types of crimes that are becoming a regular feature of the American society. Despite increasing crimes, I am against capital punishment primarily because it would bring our action at par with that of criminal. Den Haag asserts...
2 Pages (500 words) Essay

Capital Punishment

...Capital Punishment Capital Punishment Capital punishment is one of the most debated and controversial topics in the world. Even in America, one of the most civilised societies in the world, capital punishment is legal. There are many arguments in favour and against capital punishment. This paper argues against capital punishment after analysing the arguments in favour and against it. Arguments in favour and against capital punishment Supporters of capital punishment are of the view that in the absence of capital punishment, people may engage in more criminal activities. In their opinion, crime rates cannot be controlled without strong punishment and capital punishment is one way of preventing people from staying away from severe criminal...
2 Pages (500 words) Essay

Capital Punishment: Does it Deter Crime

... Capital Punishment: Does it Deter Crime? Introduction This paper seeks to discuss and analyze capital punishment whether it deters crime or not. This will also examine the other arguments for and against capital punishment and hopefully defend the proposition that it may deter crime and but there are better alternatives of deterring crime and that argument rejecting capital punishment are more justifiable than favoring the same. What is capital punishment and its background? Is the state capacitated to carry it through? “Thoughts on the death penalty” (TDP) said, “Capital punishment is the lawful infliction of death as a punishment and since ancient times, it has been used for a wide variety of offences. The Bible...
20 Pages (5000 words) Term Paper

Money & Capital Markets

The subprime lending crisis rocked the U.S. economy in late 2006 and early 2007. Subprime lending refers to the loans which are provided to the borrowers having less than ideal credit histories. In other words, subprime lending is provided to persons who do not qualify for conventional credits or loans.

The subprime loans gave rise to inflated credit facilities, increased availability of infrastructure and more circulation of more currency in the economy. But this system also gave rise to unprecedented meltdown, liquidation of funds and resultant heavy losses of financial institutions due to non-payment of loans by the borrowers.

The main reasons for the crisis are more than one. They are the failure of the b...
10 Pages (2500 words) Assignment

Economics or Ethics

Several CEOs in America have in coalition with top managers deviated from the norms of corporate governance and caused immeasurable woes to the stakeholders. Using their power and ego they chased the wealth for personal gains without any concern for the shareholders or other stakeholders of the company. Enron, the world’s largest energy trader at one time, had to file bankruptcy under Chapter 11 when about 5000 workers lost their job (Bhattacharya, 2004). Arthur Anderson, one of the big five auditing firms was charged to have colluded with the management to misappropriate funds and project a picture different from the reality. Income was inflated and then all concerned papers were destroyed. The leadership at Enron was conce...
6 Pages (1500 words) Assignment

Managerial Economics and Business Environment

Once the above said subject matter is clearly sorted out, the next emphasis would be on the concepts like the opportunity costing, incremental principle, marginal principle, discounting principle, the principle of time perspective, and calculation of economic profit as the guidelines to the scope of managerial economics. (Surender. V, 2008).
To start with, we consider a firm for which different processes have to be carried to achieve its objectives of profit maximization (assuming that all the organizations work with the view to maximize profits). If firms from different sectors are identified simultaneously, then the working of the economy as a whole could also be analyzed which in turn is useful in the decision-making proce...
15 Pages (3750 words) Assignment

Explaining White-Collar Crime through Sykes and Matzas Neutralization Techniques and Mertons Anomie

Modern criminology indicates that the term is of no limitation by referencing to types of crime, which could be enumerated as a crime by the time of the offense, by the type of offender, and by organizational culture (Cote 2002, p. 202). White-collar crimes are generally not associated with poverty or pathologies relating to it. The legal definition of crime is viewed as the only definition of crime, in which the behavior being examined is punishable by law (Sutherland 1949, p. 84).

Sutherland (1949, p. 84) claims that persons belonging to the upper socioeconomic class are involved in such criminal behavior, which is characterized as different from the criminal behavior in which the lower socioeconomic class engage in p...
11 Pages (2750 words) Report

Death Penalty: Does it Serve as a Deterrent to Future Crime

Animal instincts are directed towards self-preservation and it is the law of nature that a stronger and healthier individual has more chances of living than his weaker counterpart. The survival of the fittest has now been established as a ground reality according to Darwinian philosophy. If we eliminate our civilized thought process, it emerges as a stark reality that we would not desist from attacking another living person or animal when we are overcome by the basic needs of food, shelter, and clothing. In times of natural disasters like earthquakes, wars and floods, and manmade disasters like war, it is not uncommon to witness ravaged populations shedding the façade of civilization and resorting to violence in order to fu...
9 Pages (2250 words) Case Study

Human Resource As Proactive Human Capital: World Bank

Since employees are the pillar of the organization, the role of human resource management becomes crucial in the employment of its workforce. In the emerging challenges of the changing business equations, when the labor deployment is undergoing quantitative and qualitative transformations, HR strategy needs to be redefined to create versatility and flexibility of the contemporary work environment.

Access to information is a vital part of organizational management processes as it not only promotes efficiency and knowledge-based discharge of duties by the employees but it a great tool for the management to exploit the available information to improve its performance. The information provides wide-ranging knowledge about t...
12 Pages (3000 words) Case Study

The Law on Physical Punishment of Children Fails to give Sufficient Respect to Childrens Rights

Under the English criminal law, several past and current legislations were made in order to protect the children from corporal punishment or becoming a victim of physical abuse. Despite our effort to prevent parents from using physical force in disciplining their children, the British Government remains unconvinced that the law which protects the children from physical punishment is sufficient (Keating, 2008). Physical punishment such as ‘smacking’, ‘slapping’, ‘kicking’, or ‘spanking’ is referring to the act of causing a degree of pain or discomfort to the child. (Niland, 2009, p. 6) With regard to the legal issues behind child protection against physical abuse, this study aims to d...
6 Pages (1500 words) Coursework

Project Planning Human Capital

Project planning involves a lot of factors and areas that we need to address for the effective management and handling of the project. The aim of this report is to provide a deep insight into some of the main areas that we need to address for the project of Adams's family farmhouse renovation. These issues are project team communication, project risk management, and deadline handling. Effective communication in a project provides a huge advantage regarding the better working and handling of the project. I have selected a very significant project regarding the preservation of the old and historical places. Here we require effective communication to provide better interaction among the designer, developers, and history preservation...
8 Pages (2000 words) Coursework

Capital Asset Pricing Model and Recent Developments

It is the most essential aspect of any venture. The important considerations that finance has within it, is that of profit and loss. The business as a whole or a person as an individual always strives to earn a profit. To earn a profit, one has to undertake uncertainties that are known as risks. Therefore, profit is also known as the reward for incurring risks.
In the present world of today, the capital market has come up as a viable investment opportunity for individuals all across the globe. People invest their hard money only with the expectation to earn profit or return. The stocks of various companies that are traded in the capital market are also known as capital assets. Prior to investing in any of the stock or capital...
7 Pages (1750 words) Assignment

Real Cost of Capital

Also, other academics criticize the models' failure to incorporate other determinants of risks such as firm size, book-to-market ratio, etc. then the plain correlation of the risk of the assets to the market. Despite these criticisms, many practitioners in the corporate world still use CAPM for capital budgeting. These issues are probed in this paper.
CAPM or the capital asset pricing model has been a tool in modern finance that has been extensively used for capital budgeting. The capital asset pricing model is useful in estimating the required return on an equity stock of a company (Perold 2004). Under the principle of finance that rational investors will require higher returns to compensate them when they undertake projects...
8 Pages (2000 words) Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic The Economics of Crime and Capital Punishment for FREE!

Contact Us