Gary S. Becker, the 1992 recipient of the Nobel Prize for Economic Science and Professor of Economics at the University of Chicago, spoke to business and community leaders as guest lecturer in the Federal Reserve Bank of Richmond's Economic Lecture Series. This article is excerpted from The Economics of Crime: Prevention, Enforcement, and Punishment, which outlined his premise that people decide whether to commit a crime by a comparison of the benefits and costs.
Reprint from the Fall 1995 issue of Cross Sections, a publication by the Federal Reserve Bank of Richmond. For additional copies contact Public Affairs, Federal Reserve Bank of Richmond, P.O. Box 27622, Richmond, VA 23261; call (804) 698-8109; or send requests via fax to (804) 697-8123. There is no charge for these reprints.
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