Week 10 SOC

White collar crime

Crime committed by a person of respectability and high social status in the course of their occupation.

Edwin Sutherland

The sociologist who defined white collar crime in 1949.

Individual white collar crime

Offense committed by a single individual within an organization for personal gain.

Corporate white collar crime

Illegal actions taken by company officials or agents on behalf of the organization to benefit the corporation.

Bernard Madoff

A prominent example of individual white collar crime; orchestrated a massive Ponzi scheme that defrauded thousands.

Ford Pinto case

A classic example of corporate white collar crime involving the decision to leave a defective car model on the market despite safety issues.

Deepwater Horizon disaster

A major environmental disaster caused by BP, attributed to inadequate safety measures and regulatory failures.

Anomie

A state of normlessness in society that can contribute to criminal behavior, particularly in white collar crime.

Rational choice theory

The theory that individuals make decisions based on a cost-benefit analysis, weighing potential gains against possible punishments.

Differential association

A theory suggesting that criminal behavior is learned through social interactions with others.

Victimization costs of white collar crime

Estimates indicate that the total costs exceed $1.6 trillion, significantly higher than street crime.

Complexity of corporate crime

Corporate white collar crime often involves complex and technical actions that are difficult to investigate.

Weak regulatory oversight

Inadequate monitoring of corporations, which can lead to increased opportunities for white collar crime.

Conflict of standards

The tension between business interests and regulatory efforts that undermines a consensus about the wrongfulness of white collar crime.

Financial applications

White collar crimes are often treated less seriously than street crimes, with lighter penalties and less public condemnation.