I posted yesterday about how Detroit's murder rate effectively costs us as a community between $1.2 - $1.9 billion based on data from the RAND Corporation. This, of course, only accounts for the economic impact of murders in Detroit. Other crimes have their own economic impact.
I want to follow up on this today by adding one important point.
If, hypothetically speaking, there were no murders in Detroit this year then there would, based on the RAND data, be an additional $1.2 billion in our local economy. If there were an additional $1.2 billion floating in our local economy then I would propose that Detroit would be a very different place. For starters, based on some very simple estimates, having that much money in our local economy would likely result in the creation of more than 20,000 jobs.
I would like to ask everyone who reads this: what do you think Detroit would like if we had an additional $1.2 billion in our local economy and more than 20,000 full-time permanent jobs for Detroiters?
I would imagine that Detroit would be a very different place; a much better one, in fact if we had that much more money in our local economy and that many more jobs for our citizens.
If Detroit can brings its crime problem under control, these are the sorts of things that are possible. We will always have a certain amount of crime. Every community in the world has at least some crime. However, if we could begin to reduce it dramatically then we see a huge improvement in our lives - both from the obvious standpoint of not having as much crime in our community as well as the economic impact.