However, the fact of the matter is that the concept of "risk versus reward" needs to be observed, and the truth is stealing offers far too much reward for almost no risk.
The game warns you if you're caught, at which point you may simply reload and try again. You can rob a town blind and never suffer a dent to your reputation or tarnish the attitude of the townfolk towards you. And that is a simple task to accomplish when it comes down to it.
I would argue that choice doesn't really exist currently, as your current options (particularly with the first few levels) is to either steal to earn money or to do neither. What kind of choice is that really, particularly when the first few levels are surprisingly short on combat opportunities (especially for someone trying to take a more lawful/good path)? Quests offer no gold as rewards, and there are only a few non-theft containers in the town which may or may not offer anything useful due to the random nature of loot.
Well then, should it be easy to be good? The path of the Righteous man is beset on all sides by the inequities of the selfish and the tyranny of evil men. Blessed is he, blablabla.
Seriously guys, it was just for the sake of the argument, as stated. I do agree that stealing is a bit too much low risk/high reward in its current state. Arguably, let's face it, that is the case almost every time a RPG gives players the opportunity to steal to a significant degree. Stealing in a Bethesda RPG is a joke. Stealing in the original Fallout game can litterally break the game, and it is as easy as spending a few ability points on a character sheet.
Now, I'm not advocating for theft (nor the removal of the feature, in fact). That being said, we have to bear in mind that PC theft opens up its own Pandora's box at some point or another if the developpers wish to make it a significant feature and not some fluff mechanic to rob a coin or two from the local townfolks.
And I stand by my previous suggestion to have quest rewards be more substantial, and perhaps have monsters drop a bit of coin here and there on a more regular basis.
[Edited for quote.]