Steven Greenhut on How the Nationwide Drop in Crime Could Save States Money

At the end of the Cold War, policy makers talked about the "peace dividend"—huge budgetary savings that could go elsewhere because fewer dollars were needed to deal with a vanquished Soviet Union. Americans may be facing a similar possibility closer to home, as crime levels plummet to the lowest they've been in decades. Such a large portion of local and state budgets goes toward "public safety," writes Steven Greenhut, that there's vast opportunity for a "domestic peace dividend."