Neoclassical Approach To Crime
Over the last several decades the field of law and economics has intertwined with each other beyond anyone’s expectation. It starts on with the classical theory of crime and develops to show the emergence of neoclassical approach as a improvised version incorporating ideas missed out by classical approach.
The bulk part of this paper focuses on the Neo classical economics approach to crime. It especially focuses on the writings of Gary Becker who laid out an economics-based theory of crime in the late 1960. Becker’s neo classical model of crime argues that people always tend to weigh the expected utility of criminal and non-criminal actions and choose the one which has the greatest value.
The bulk part of this paper focuses on the Neo classical economics approach to crime. It especially focuses on the writings of Gary Becker who laid out an economics-based theory of crime in the late 1960. Becker’s neo classical model of crime argues that people always tend to weigh the expected utility of criminal and non-criminal actions and choose the one which has the greatest value.