Death to worm writers

Writing on Slate, Steven E. Landsburg presents the economic argument for executing people who write computer worms. Yes, there is one:

Let's do the math. What do we get out of executing a murderer? Deterrence. A high-end estimate is that each execution deters about 10 murders. (The highest estimate I've ever seen is 24 murders deterred per execution, but the closest thing to a consensus estimate in the econometric literature is about eight.) That's 10 lives saved, with a value—again a high-end estimate—of about $10 million apiece. (The closet thing to a consensus estimate in the economics literature is about $7 million per life. I am rounding up.) So let's say the benefit of executing a murderer is roughly 10 times $10 million, or $100 million—and that's probably at the high end.

Compare that to the benefit of executing the author of a computer worm, virus, or Trojan. There seems to be no good name for such people, so I'll make one up—at least until some reader sends in a better suggestion, I'll call them "vermiscripters." It's estimated that vermiscripting and related activities cost the world about $50 billion a year. So if a single execution could deter just one-fifth of 1 percent of all vermiscripting for just one year, we'd gain the same $100-million benefit we earn by executing a killer. Anything over one-fifth of 1 percent, and any effects that last beyond the first year, are gravy.

Even if you don't buy Landsburg's tongue-in-cheek argument -- well, I'm pretty sure it's tongue-in-cheek -- you might be interested in his enlightening explanation of just how economists came up with those valuations for human life.