It incentivized them to kill their victims, but disincentivizes them from victimizing in the first place. Furthermore, just as willingness to victimize is somewhat inelastic, so is willingness to kill. This calls for some complicated formulas and charts of dubious real value.
While the formulas are not that intuitive for most people, and require estimates of harm and marginal deterrence costs, they are ultimately pretty simple. See my dad's book "Law's Order", for example.
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anyway, Mr. Friedman, both you and I know (or should) that the source of the True Law is not Chartism, nor Pig Philosophy, nor anything else foolishly produced by the Utilitarians of the West. The source is the Holy One, Blessed Is He.
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When you dig in a little, it's all spherical horses in a vacuum, and they're made mostly out of fudge. Even if you extrapolate formulae from different societies with different legal systems, the underlying human material is different (shaped by those systems over centuries.)
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