When $1.6 billion isn’t enough
December 2nd, 2010
Everyone knows money is a powerful dissuader.
Think of parking tickets. If there were no penalty, most people would be unlikely to feed the machine with a few
A variety of activities ranging from smoking to carrying durians is banned on Singapore's Mass Rapid Transit system.
quarters. But it’s a small price to pay when the ticket fine is $30 (or $50 if you live in DC).
Any Economist will tell you that, by design, compliance with laws is a mix of two important factors. One: the penalty that results if the offender is caught and 2: the probability...
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