Discuss both the challenges and advantages of measuring the economic impacts of crime. Provide Sources!

Discuss both the challenges and advantages of measuring the economic impacts of crime.

Provide Sources!

Expert Solution

The rise in the crime rate across nations has led to development of several methods that can help in measuring the crime rate of a country. The new methods are having difficulty in measuring the total economic impact of crime. This is because economic impact of crime is subjective. Some people. for instance, low income households are impacted more by the rise in the crime rate as compared to rich households. Also, it is difficult to measure the exact economic impact as in some of the sub areas the impact cannot be quantified.

The advantages of measuring economic impact of crime include acceleration of steps taken by the government both at the Central and state level to reduce the crime rate as it impacts overall GDP of the nation. It reduces nation's GDP and thus impact overall production of goods and services in the country.

Thus, the method might have some challenges but overall it is advantageous for the entire country.

Rahul Sunny answered 1 year ago

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