1. Crimes against property and persons

3. criminaljustice.state.ny.us

6. Market for Insurance o D 1 Quantity S 1 Price Q 1 Q 2 P 1 P 2 D 2 Increase in crime Rise in demand for insurance Price and sales increase

7. o D 1 S 1 S 2 P Q 1 Q 2 P 1 P 2 Market for jewelry Quantity Rise in shop-lifting Sellers install expensive security equipment Supply shifts left Price of jewelry rises Quantity sold falls Works like a tax on goods Cost of security cameras

10. Demand price inelastic P Q d 0 Steep Curve: Demand Relatively Inelastic 1. Few close substitutes 2. The good is a necessity 3. Small part of buyer’s budget 4. Short time period 5. Addiction

11. Demand price elastic P Q d Flat Curve: Demand Relatively Elastic 0 1. Many close substitutes 2. The good is a luxury 3. Large part of a buyer’s budget 4. Long period of time

15. P o P m P Q D 1 Q o D 2 An increase in demand with inelastic supply causes… large increase in price S m

16. P o P Q D 1 Q o D 2 P L An increase in demand with elastic supply - Smaller price increase S L Q L

17. Who will pay the tax, buyers or sellers? Quantity Price Q * P S P B Quantity Q * P * P S P * P B Inelastic Demand D D S S Elastic Demand Part of tax paid by buyers Part of tax paid by sellers Inelastic demand: higher share of taxes passed on to buyers via higher prices Elastic demand: higher share of taxes is paid by seller

19. Intent important to an understanding of the dynamic process leading to death Confrontation and Choice Intent Outcome KILL (Premeditated Success - Homicide or 1st degree murder) Failure - Assault INJURE Success - Assault (Assault) Failure - No Injury Threaten Homicide 2nd or Manslaughter Could escalate to one of above Except for 1st degree Murder, the path is unclear - can be uncertain until the very end - may change in the process

22. France was the last Western European Country to abandon the death Penalty in 1977

25. Execution Witness Area

26. Execution Chamber

27. Gas Chamber

29. 1976 Supreme Court Reinstates Death Penalty

30. Bureau of Justice Statistics Peak to Peak: 50 years

31. Executions in the US 1930-2007 http://www.ojp.usdoj.gov/bjs Peak to Peak: About 65 years

32. U.S.

33. Clearance Ratio, US 1976-2005

38. www.deathpenaltyinfo.org

45. Nikolai Kondratieff (1892-1938) Brought to attention in Joseph Schumpeter’s Business Cycles (1939)

47. NY Recidivism Trends