Tuesday, August 2nd, 2011

Report: Jane's Addiction Vastly Oversimplified Complexities Of Petit Larceny

"'I enjoy stealing,' explains singer Perry Farrell in 'Been Caught Stealing,' Jane’s Addiction’s 1990 ode to shoplifting. 'It’s just as simple as that.' But unfortunately for businesses and thieves, little about shoplifting is simple."

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ls (#9,728)

A friend did his undergrad thesis on how shoplifting was a net benefit to the economy because it causes stores to employ security guards and pay them (more than they lose through shoplifting). The marginal effect of choosing to shoplift is positive, and therefor shoplifting is not only not wrong but actually a moral imperative.

deepomega (#1,720)

@ls Broken windows fallacy. NEXT.

ls (#9,728)

@deepomega Not so simple. The cost of the security guard probably comes out of the store's rate of profit, not from a zero-sum spending budget. Also, it's widely noted that even forcing totally useless spending (war goods, for instance) can be beneficial. It wasn't my thesis, obviously, but it was about making the argument that the glazier's paradox doesn't apply.

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