Well, it flys in Communist countries because the government recognizes the need to protect the property that it has stolen. For some reason, in the "free world" property can't be equated with life. Yet if you had all of your property removed, what now is your status in the world? Beggar? And it's bad enough if that's what you earned through your behavior. But to be thrust there because someone else thought that they deserved to have your stuff more than you?Then restitution and having to replace things that weren't recovered makes more logical sense than the argument you are making.
Even if the stuff isn't recovered and the perp gets away, the time and money used to buy stuff that is being stolen is not the equivalent to taking someones life. Time spent working to pay for stuff is still time spent living, breathing, learning, etc. It's also not worth the risk of firing shots that could potentially hit people or damage other's property while attempting to protect stuff. It's all around a bad idea and concept that will only fly in 3rd world and communists countries.