Ways that shoplifting affects the economy
Shoplifting hurts more than the stealer. It strains the police and court systems, increases costs for the store that leads to the prices on the items at the store to rise.
Stores don't lose money - instead they put their rates up to cover the losses. Where companies are insured for losses, the insurance company ends up increasing its rates - which then mean that those costs are passed on to the consumer. In other words, the cost of theft is passed on to you and me - we end up paying extra for everything to cover the cost of items other people steal. The economy as a whole is impacted because overall theft drives up the prices of all goods.
The invasion of privacy by the security measures to consumers when shopping in stores.
Shoplifting has an effect on the economy for many reasons.
1. When items are stolen the store must take the loss or pay for insurance to cover shoplifted items.
2. A business may have to hire security guards to help protect the store.
3. A business may purchase surveillance products to help prevent or catch shoplifters
4. All kinds of items are tagged with different kinds of devices to hinder shoplifting.
All of the above cost money, time, paper work, which is added into the price of the product.
You also have these things to consider.
1. Police arrest shoplifters, then get an attorney (sometimes free)
2. They go to court and if found guilty, they may have to pay a fine or
3. Be put in a program or serve time in jail or put on probation, etc.
All of this cost most money. You could try to argue that all of this provides more jobs; unfortunately it does not even begin to cover the monetary loss of shoplifting.
The effects of shoplifting also impel store owners to have backpack or bag check in policies, security cameras, security guards or sensory systems, and other special alarms in order to deter shoplifters and catch offenders. Many businesses will prosecute shoplifters to...