The Problem With Fines Is Not That They Are Not Big Enough

Turn on the news, and you'll be bombarded with stories of people who lie, cheat, and kill. Most of our public and economic policies take aim at these sorts of people — the wrongdoers and the profiteers. But is there a hidden cost to the rest of us when we put bad actors at the center of our thinking? Do the measures we put in place to curtail the selfish inadvertently hurt our capacity to do right by others? In the latest in our "Mind Reading 2.0" series, we revisit a 2020 episode with behavioral economist Sam Bowles. He argues that laws written to govern the lawless end up changing the behavior of the lawful — for the worse. 

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