THE EDITORS MAINTAIN THAT A MORE PROFESSIONAL, 'STRATEGIC' ANALYSIS OF THE CRIMINAL UNDERWORLD, DRAWING HEAVILY ON MODERN ECONOMICS AND BUSINESS ADMINISTRATION, COULD HELP IN IDENTIFYING THE INCENTIVES AND THE LIMITATIONS THAT APPLY TO ORGANIZED CRIME; IN EVALUATING THE DIFFERENT KINDS OF COSTS AND LOSSES DUE TO CRIME; IN RESTRUCTURING LAWS AND PROGRAMS TO MINIMIZE THE COSTS, WASTES, AND INJUSTICES THAT CRIME ENTAILS; AND IN RESTRUCTURING THE BUSINESS ENVIRONMENT IN WHICH ORGANIZED CRIME OCCURS WITH A VIEW TO REDUCING CRIME OR AT LEAST ITS WORST CONSEQUENCES. INDIVIDUAL CHAPTERS DISCUSS THE ECONOMIC ASPECTS OF CRIME, THE ECONOMICS OF GAMBLING, OF HORSE RACING AND SPORTS BETTING, AND OF THE NUMBERS GAME. ALSO DISCUSSED ARE LEGALIZATION OF GAMBLING, THE ECONOMICS OF LOANSHARKING AND NARCOTICS, CORRUPTION AND CRIME IN LABOR UNIONS, AND ORGANIZED CRIME INFILTRATION INTO LEGITIMATE BUSINESS. OTHER TOPICS CONSIDERED ARE THE ECONOMIC IMPLICATIONS OF PORNOGRAPHY AND PROSTITUTION, AND THE FINANCIAL OPERATIONS OF ORGANIZED CRIME. EACH CHAPTER CONTAINS ITS OWN BIBLIOGRAPHY. AN INDEX IS ALSO PROVIDED. (SNI ABSTRACT)