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Apparently all I can read is the first page, which is enticing but not very helpful.
I think it is free to register for an account which should allow you to read it online.
At any rate there are many other scholarly analyses of the economics of crime. For example, on Amazon http://www.amazon.com/Economics-Crim...dp/0415771749/ read the free preview available through the "look inside" feature on the left.
Or spend 30 seconds on Google Scholar and search for the economics of crime and you'll see what I'm talking about.
On the cost side, there are many conditional probabilities including probability of being caught given that you commit a crime, the probability of being prosecuted given you're caught, the probability of being convicted given you're prosecuted, the probability of receiving a non-zero sentence if prosecuted, the probability of serving a non-zero sentence given you receive a non-zero sentence, etc etc ...
... And of course, the opportunity costs are your earnings given you do not commit the crime in the first place. There is more crime among the poor because of rational factors.
Quote:
Originally Posted by freemkt
i'll stipulate that poverty is associated with relatively greater perceived payoff to crime among those without morals, but poverty would be irrelevant in a moral world.
"... Moral world? ..."
It's so cute when people engage in baby-talk -- you know, putting random sounds together as if they actually had meaning.
So, if a person doesn't make enough money, they should kill themselves?
Are you even being serious right now?
That is in response to a poster who proudly asserts he is a complete and total economic failure with zero interest in changing his situation whatsoever. He proudly asserts he is a net drag on society and will be so for the rest of his miserable life.
The Economics of Suicide is the study of the conditions where an economic actor's optimal choice is to end his existence. It is a rational choice for some, and perhaps would be if that poster's predicament were in fact true (rather than just being a troll).
Everybody has to live within their means - even the very wealthy. How many wealthy celebrities have we heard of over the years who have mismanaged their finances and have ended up owing millions to others?
My husband enjoys doing car maintenance. He's no mechanic, but he can do oil changes and the basic stuff. I don't let him maintain my car, though, because it's still under warranty.
Under the same logic, it would be cheaper for me to hire a maid to clean my house because I can make a higher hourly rate working. But, alas, I kind of like doing my own housework.
It's good to enjoy these things a bit. For many they are mere chores...
It means you shouldn't even think of buying the new iWhatever if you're making 40k
Spoke with some kid complaining about not having enough money and blaming the high cost of college and how young people have it harder these days. I inquire further. He has credit card debt and made a rule of getting the latest technology. He is a self proclaimed early adopter.
Originally Posted by ncole1
You are not including the cost of your own time. It's misleading to say you save so much by DIY, which is largely an illusion you create by treating yourself as a slave and pricing your labor at $0/hour.
Quote:
Originally Posted by SportyandMisty
For some of us, automobile maintenance is a recreational activity. Ditto for house & yard maintenance.
But this begs the question: What do gardeners do in retirement?
The point is not what you do for fun, but whether you can manage to do something productive that someone does not tell you to do. I don't like mowing my lawn, but I do it. I don't like doing housework, but I do it. I don't like changing my own oil, but I do it. I'm not going to pay a maid service, yard service and mechanic so I can squander money that I could be saving and investing. Even worse, I'm not going to let an expensive vehicle turn into a pile of junk because I can't afford to hire a mechanic.
There's a corrosive entitlement mentality in this country. It starts when children don't turn in their homework or do assignments because they don't feel like it, and continues right into adulthood. I have no sympathy for people who can't live within their means when the problem is their own laziness and lack of initiative. It's too bad that they don't like cooking, but if they want to squander their future eating out instead of brown bagging their lunches and cooking dinner, they deserve to be broke.
Here's part of my budget:
Amount spent eating out in the last 30 days - $0
Amount spent on drinks (alcoholic and non) - $0
Incidentals - $120 (Canon DSLR with 2 extra lenses. Thank you Craigslist)
Living within your means is a necessity for everyone. Look how many lottery winners end up in bankruptcy.
This is true. There are millionaires who end up in debt and broke, in trouble with the IRS for not paying their taxes, on the verge of losing everything that they have but still live like they're loaded.
On a much (much, much) smaller scale, I know people with incomes similar to mine and my husband's who have McMansions, two flashy new vehicles, every iProduct in existence, a pantry full of only organic food from Whole Foods, etc. etc. It looks like they are living great until you hear them answering an embarrassing collections call or when they drink too much and confess that their credit is wrecked because they're behind on everything and are about two weeks ahead of the repo man and the bank foreclosure.
And yes, there are poor people who are out buying everything under the sun yet are mooching off of the government because they can't "afford" to pay their light bills or to buy food for their families or formula for their babies. It's always a little sickening to get behind the welfare queen who has a new hairstyle, freshly-manicured fake nails, a Coach bag and an iPhone and who is paying for her steak and soda with an EBT card.
My only point in my first post in this thread is that for some people, living within your means is next to impossible because you practically have no means. You aren't trying to live some high-class lifestyle, you just want to buy a halfway decent pair of shoes with no holes and pay your light bill without having to pay the late penalty. It's not that you aren't trying or that you spend sooo much money, it's that your job is crap, bills and life are expensive and emergencies happen when you least expect them. I know what it's like because I've been there, and I've always worked hard, have never been a slacker and have always been pretty frugal.
Welfare mama: "I thougth I lost my EBT card, but I found it at the bottom of my Coach Purse right next to my iPhone 6 and the keys to the Escelade."
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