The Economic Approach to Crime and Punishment

The economic way of thinking is really about choices and behavior. Milton spent a similar period in the wilderness where... Long one. He had to accept the fact that he felt he was right and the profession rejected him. Absolutely. And so I always say in a short run, when asked to think of the deterrence variables like apprehension, conviction, and punishment. The fact that these do seem to work and significantly influence people's choices has been my lasting insight.