The issue of the death penalty and whether or not it is an efficient crime deterrent relates to economics because in order to truly answer the question, one must weigh both the marginal costs and benefits of this practice. Using economic analysis, one is able to gain a better understanding and look into the benefits and costs related to the death penalty, and ultimately are able to determine whether or not the death penalty is an efficient deterrent. When weighing the two different sides of the argument, it can be challenging to make an unbiased decision when answering the question, so economic analysis must be used. Using economic analysis we are able to better determine the optimum level of the service by comparing the two alternative
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Marginal costs are calculated from the cost of a murder trial, where the maximum sentence is life-time incarceration, and the costs associated with the capital trial process. When conducting an economic analysis of the costs associated with the death penalty, it is the additional costs incurred during a capital case over those associated with a life imprisonment murder case that are important (Kasten, 1996). Through the use of weighing the marginal costs and marginal benefits associated with the death penalty acting as an efficient crime deterrent, we are able to use the results and assist in the economic analysis and conclude whether or not the number of murders goes down with an increase in executions. From an economic perspective, it is discovered that society should only use capital punishment if the marginal benefits outweigh the marginal costs. In order to analyze the economic efficiency of capital punishment, both the benefits and costs of the death penalty must be …show more content…
Although it was difficult to find statistical evidence that supports the idea that less crimes happen because the death penalty is in place, I cannot help but use the graph as evidence that as the number of executions increase, fewer murders take place. Death is as serious as punishments come and if that does not stop some criminals from committing serious crimes, I can only imagine the amount of crimes that would happen if the death penalty was not a possible punishment present in today’s law. Overall, it was difficult to accurately assess the economic efficiency the death penalty serves to the United States given the shortage of quantitative data present today on the marginal benefits and marginal costs of the death penalty, but given the benefits of less crimes being committed because of the death penalty, I believe that the death penalty does do an efficient job of deferring crime. The death penalty has literally been around since the beginning of recorded history, which means that it is obviously doing what it was set out to do and is stopping a number of criminals from committing crimes, so why end something that is doing us good? I believe that the death penalty is good for the United States society, economy and people, and should continue to be enforced into the
Marginal costs are calculated from the cost of a murder trial, where the maximum sentence is life-time incarceration, and the costs associated with the capital trial process. When conducting an economic analysis of the costs associated with the death penalty, it is the additional costs incurred during a capital case over those associated with a life imprisonment murder case that are important (Kasten, 1996). Through the use of weighing the marginal costs and marginal benefits associated with the death penalty acting as an efficient crime deterrent, we are able to use the results and assist in the economic analysis and conclude whether or not the number of murders goes down with an increase in executions. From an economic perspective, it is discovered that society should only use capital punishment if the marginal benefits outweigh the marginal costs. In order to analyze the economic efficiency of capital punishment, both the benefits and costs of the death penalty must be …show more content…
Although it was difficult to find statistical evidence that supports the idea that less crimes happen because the death penalty is in place, I cannot help but use the graph as evidence that as the number of executions increase, fewer murders take place. Death is as serious as punishments come and if that does not stop some criminals from committing serious crimes, I can only imagine the amount of crimes that would happen if the death penalty was not a possible punishment present in today’s law. Overall, it was difficult to accurately assess the economic efficiency the death penalty serves to the United States given the shortage of quantitative data present today on the marginal benefits and marginal costs of the death penalty, but given the benefits of less crimes being committed because of the death penalty, I believe that the death penalty does do an efficient job of deferring crime. The death penalty has literally been around since the beginning of recorded history, which means that it is obviously doing what it was set out to do and is stopping a number of criminals from committing crimes, so why end something that is doing us good? I believe that the death penalty is good for the United States society, economy and people, and should continue to be enforced into the