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On the Impossibility of a Purely Objective Economic Theory of Crime

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  • Miceli Thomas J.

    (Department of Economics, University of Connecticut, Storrs, CT, USA)

Abstract

This essay argues that a purely objective economic theory of crime (i.e., one devoid of moral or ethical judgments) is impossible. The basis for this claim is the reciprocal nature of causation in externality settings as first pointed out by Coase (1960), which renders the definition of harm indeterminate. At most, economic theory can prescribe an efficient pricing scheme once the direction of causation, and hence the nature of harm, has been defined. The essay concludes by discussing the implications of this idea for civil disobedience, cancel-culture, and victimless crimes.

Suggested Citation

  • Miceli Thomas J., 2024. "On the Impossibility of a Purely Objective Economic Theory of Crime," Asian Journal of Law and Economics, De Gruyter, vol. 15(2), pages 209-219, May.
    • Handle: RePEc:bpj:ajlecn:v:15:y:2024:i:2:p:209-219:n:1
    DOI: 10.1515/ajle-2023-0135
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    More about this item

    Keywords

    economics of crime; externalities; reciprocal causation; moral theory of law;
    All these keywords.

    JEL classification:

    • K10 - Law and Economics - - Basic Areas of Law - - - General (Constitutional Law)
    • K14 - Law and Economics - - Basic Areas of Law - - - Criminal Law
    • K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law

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