Here the word for knowing or counting is "consider". I think the idea is that we absolutely forget. I have viewed this "in Christ" relationship as a representation of our authentic identity. This is a lifelong dependence like a vine made of branches. But I don't think Paul is saying that the active presence of sin, which does considerable harm, is what we should consider dead. He says that we are no longer under the judicial power of moral judgment. It poses an extraordinary challenge to us. If he says that the law no longer has the power to protect us from the power of sin, how are we supposed to muster enough willpower to overcome sin? I just believe that he is talking about the law of the gospel.He later speaks of the law as spiritual because it accurately informs our sin. It is of course interesting that when we repeatedly speak of moral laws, our lives are placed in the historical context in which our evil desire to indulge in sin is intensified. ... "Yes, I know how hard this bitter fight is."  

Although he focuses here on our organic union with Christ in sins containment of the law, I believe that he does not repeatedly support that teaching with a gospel of the law process. Some of us reasonably call for innovative approaches because we are not constantly struggling to break free from harsh judgment or that process of law enforcement that subtly undermines our trust. In this context he points to the unique relationship that we enjoy “in Christ.” The law contains our sin in stark contrast to the old relationship of eternal damnation. Gene says we are no longer in an accusing relationship, we are considered vulnerable children. In a way, we might fall into sin, and that doesn't change our stable relationship with Christ or the law. Death represents containment rather than under the pathetic slavery of the law.  

James says that when we were under the law, we were controlled by paying attention to the counts of the law; but now we are ruled in Christ by His preventive love. The power we really enjoy over our betrayed trust. James always sounded like an antinomian; hence, some of us are exposed to the sublime spirit of self-righteousness to which we have little resistance. I believe that the apostle is humble by locking himself up with effective fighters in the spirit of divine grace.