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Economic Crime Model

1780 Words8 Pages

In this essay, the author analyzes policies and events that affect crime rates in the United Kingdom. The analysis utilizes the economic model of crime by Gary Becker. The discussion will involve analyzing events and government policies and how they impact crime based on the four major elements of the model.
The Economic Model of Crime
Gary Becker popularized the economic model of crime in 1968. The holds that criminals rationally compare the costs and benefits of crime they plan to undertake (Becker, 1968, p.169). The economic model of crime accurately postulates that criminals are rational individuals who weigh and compare the costs and benefits of any criminal activity before they make a decision. In light of this fact, there are government …show more content…

Legal alternatives include legal activities that one can undertake to derive specific gains. An example of a legal alternative is seeking employment. In practice, people with poor labor market opportunities have a tendency to participate in criminal activities. For example, youths who dropped out of school without any qualification often demonstrate different crime propensities compared to professional who possess graduate degrees (Machin & Meghir, 2004, 964). Also, high unemployment rates and low wages increase the likelihood of a person committing a crime. Potential gains from crime include the net benefits one is likely to derive from participating in a criminal activity, such as stealing property or mugging a person on the street. Probability of getting caught measures the chances of the law enforcement officers apprehending a criminal during crime or after the crime has been committed (Sieberg, 2011). When a criminal believes that the probability of being caught is high, they are deterred from committing a criminal offense. Lastly, severity of the punishment refers to the nature of consequences once a person is caught committing a crime (Becker, 1968, p.179). Examples of severe punishments include longer incarceration, lifetime imprisonment, and punitive fines among others. High degree of punishment or …show more content…

In the United Kingdom, government policies and events that have affected crime rates include terrorist attacks, school leaving age, policing policies, recession, and labor market practices. As demonstrated in the discussion below, these events and policies have impacted crime by influencing the one or multiple elements of the economic theory of crime.
Terrorist

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