Friday, October 10, 2008

Think Your 401(k) Is a Problem? How About Crime?

I spent a few moments discussing precisely this with an LEO this morning.

“Every recession since the late ’50s has been associated with an increase in crime and, in particular, property crime and robbery, which would be most responsive to changes in economic conditions,” said Richard Rosenfeld, a sociologist at the University of Missouri-St. Louis. Typically, he said, “there is a year lag between the economic change and crime rates.”

That's hardly the biggest concern. What happens if there's a collapse of the financial system?

HT: McArdle

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