White-Collar Crime

Research Paper # 101954

White-Collar Crime

This paper analyzes the rise of white-collar crime within the United States in relation to John Maynard Keynes' and Adam Smith's free market systems.

3,081 words () | 11 sources | MLA | 2008 United States

Paper Summary:

The paper examines how the free market global economy has played a large role in increasing corporate crimes. The paper looks at the conflict between the economic theories of Adam Smith and John Maynard Keynes and shows how the details of economic global free market systems can identify the problems of 20th century white-collar crime within the discourse of rights and justice-based theory. The paper presents a strategic plan that will address systemic problems that facilitate corporate crime. The paper believes that with a coordinated resolve to fight corporate crime, this is a workable strategy that will improve the situation substantially and prevent a great deal of free market abuse.

From the Paper:

"The central issue of Adam Smith's "hidden hand" economics in the free market economy is the growing failure of the U.S. government to regulate the way that banking has been practiced in global markets. One example of this was the problem of the Savings and Loan Crisis, which often deregulated banking institutions, causing problematic ethical issues through justice based theories of fair and balanced market behaviors. In this case, the government did not enforce restrictions on competitive measures for commercial banks for the greater benefit of the banking industry."

Sample of Sources Used:

Achbar, Mark and Jennifer Abbott. (Directors). The Corporation. Big Picture Media Corporation, 2003.
Danaher, Kevin, and Jason Mark. Insurrection: Citizen Challenge to Corporate Power. New York: Routledge, 2003.
Fonda, Darren. "After Bernie, Who's Next?" Time Magazine, 165.13 (March 28, 2005): 44-46.
Geis, Gilbert. White-Collar Crime: Offenses in Business, Politics, and the Professions. New York: Free Press, 1994.
Glasberg, Davita. "The dialectics of white-collar crime: the anatomy of the savings and loan crisis and the case of Silverado Banking, Savings and Loan Association - Special Invited Issue: Money, Trust, Speculation and Social Justice - Part 1: Trust, Confidence, and Crime." 1998. The American Journal of economics and Sociology. Find Articles Database. 14 November, 2006. <http://www.findarticles.com/p/articles/mi_m0254/is_4_57/ai_53449306/pg_2>