The Economics of Organised Crime
- The Econosaurus
- Oct 10
- 1 min read
Updated: Oct 14
Here is a student-friendly article on the Economics of Organised Crime. It explores Buchanan's hypothesis that a monopoly crime firm (an OCG* such as a mafia family) might result in a lower crime output than a crime market composed of lots of independent criminals.
It's nice extra reading for market concentration or institutions (these gangs can sometimes simultaneously undermine traditional institutions while replacing some of their functions).
It would also work well as a basis for an Economics Club or discussion group activity. I'm planning to make it part of a series on the Economics of Crime.
*I'm rewatching Line of Duty