In the latest issue of The Wilson Quarterly, there’s a “Crime and Punishment” section featuring Philip J. Cook and Jens Ludwig‘s “Economist’s Guide to Crime-Busting” (gated), which considers the most “cost-effective way to control crime.” And Alex Tabarrok of Marginal Revolution writes on one of his favorite topics: bounty hunting. “Bail might be a rich man’s privilege were it not for the bail bondsman … In return for a non-refundable fee, usually around 10 percent of the bond, a bondsman will put up his own money with the court,” writes Tabarrok. “A typical bond might run $6,000. If the defendant shows up, the bondsman earns $600. But if the defendant flees, the bondsman potentially can forfeit $6,000. Potentially, because when a fugitive fails to appear, the court gives the bondsman a notice that essentially says, ‘Bring your charge to justice soon or your money is mine.’” [%comments]
Crime in The Wilson Quarterly
TAGS: Alex Tabarrok, crime
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@–possum, “Last thing the world needs is ridiculously smiley happy people who have no idea why they’re smiley and happy.”
I’m not sure you’re right, nevertheless–having the notion that Prozac (or any SSRI) makes people happy is to grossly misunderstand Depression. Read the short book “Darkness Visible” by William Styron for a bone-chilling first-person account of Depression.
Hell, I’d vote for putting something in the water supply, but I won’t drink water: Fish make love in it! (Thanks, W. C. Fields)
As for the main question–The most cost effective way to reduce crime (which is different from “controlling” crime) is to encourage a society where growing up to be a decent and well-educated person makes sense, and is achievable. Encourage birth control, too.
Otherwise, have no planning except–rob the poor, give to the rich, and build more jails….Just like we’ve been doing.
Bail bonding is loan sharking but hey, so are credit cards.
EM Jones: “I won’t drink water: Fish make love in it! (Thanks, W. C. Fields) ”
So how do you feel about breathing air?