Incentives matter: rational crime file

Mark Perry at Carpe Diem writes,

Paul Kedrosky reported yesterday that copper thefts are rising again, due to the all-time record high prices in recent months.

Copper prices were US$1.40 per pound at the end of 2008 and are now approaching US$4.50 per pound. Perry continues,

According to a Google News search, there have been 545 news stories in just the last week containing the phrase "copper theft," and that compares to 665 stories during the entire year of 2009 when copper prices were between $1.50-$3.00 per pound, and 1,750 stories last year as prices rose above $4 per pound by the end of the year.

So even criminals respond to incentives.