Don’t rob banks

I adore this. The economic reasons why you shouldn’t rob a bank. This is only the introduction, the full piece has the figures:

The UK’s banking trade organization decided it wanted an analysis of the economic effectiveness of adding security measures to bank branches. The professors did that, but in the process, they also did an analysis that looked at the economics of bank robbery from the thieves’ perspective.

The results were not pretty. For guidance on the appropriateness of knocking over a bank, the authors first suggest that a would-be robber might check with a vicar or police officer, but “[f]or the statistics, look no further. We can help. We can tell you exactly why robbing banks is a bad idea.”

Economists demonstrate exactly why bank robbery is a bad idea – John Timmer, Ars Technica (14 June 2012)

Read the full piece.

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