No they don't punish 8yr olds they don't punish adults either if it's under $50.  Under 500 is still a misdeamonor.  Meaning a "not serious charge" they don't even take them to jail anymore.

If someone is caught stealing they write them a ticket and send them on their way.  (No joke, I've watched it happen and I have friends in loss prevention) 

Yes there was more trust in America back then, (not in major urban cities but in small suburban or rural ones yes) Americans had honor, self-respect, dignity, honesty;  but we also had less poverty. 

Increases in poverty = increases in theft.  People became desperate and lazy.  No one wanted to work hard anymore they wanted to be handed everything.  Vast numbers of Americans have become a bunch of the most lazy entitled people you would ever want to meet.  That is our current currency. Even among our enlisted members the feeling of brotherhood and camaraderie and honor has evaporated. So now it's our job to protect ourselves as best we can.