- The Oxford Handbooks in Criminology and Criminal Justice
- The Oxford Handbook of White-Collar Crime
- Core Themes in the Study of White-Collar Crime
- The Roots and Variant Definitions of the Concept of “White-Collar Crime”
- Theoretical, Empirical, and Policy Implications of Alternative Definitions of “White-Collar Crime”: “Trivializing the Lunatic Crime Rate”
- What Is Known and What Should Be Known About White-Collar Crime Victimization?
- The Costs of White-Collar Crime
- Who Commits White-Collar Crime, and What Do We Know About Them?
- White-Collar Criminals: Ethnographic Portraits of Their Identities and Decision Making
- The Pool of Potential White-Collar Criminals: Whence?
- Middle-Class Crime: Moral Economies Between Crime in the Streets and Crime in the Suites
- Gender Constructions
- Adolescent Precursors of White-Collar Crime
- White-Collar Criminal Participation and the Life Course
- Developmental Perspectives on White-Collar Criminality
- White-Collar Crimes of the Financial Crisis
- Organizational Political Economy and White-Collar Crime
- Economic Fluctuations and Crises
- Cultural Variation
- Criminal Decision Making in Organizational Contexts
- Opportunities for White-Collar Crime
- Employee Theft
- Criminogenic Organizational Properties and Dynamics
- Organizational Self-Restraint
- Oversight and Rule Making as Political Conflict
- Regulation: From Traditional to Cooperative
- Comparing Assumptions Underlying Regulatory Inspection Strategies: Implications for Oversight Policy
- The Credibility of Oversight and Aggregate Rates of White-Collar Crime
- Investigating and Prosecuting White-Collar Criminals
- Sentencing Respectable Offenders
- Effects on White-Collar Defendants of Criminal Justice Attention and Sanctions
- White-Collar Crime and Perceptual Deterrence
- The Practical Challenges of Responding to Corporate Crime
- Public Opinion and Public Policy on White-Collar Crime
Abstract and Keywords
This chapter examines how changes in corporate–state relations in the late 20th century created social structures that simultaneously facilitated financialization as a capital accumulation strategy and created opportunities for corporate managers to engage in white-collar crime. The organizational and political-legal arrangements that emerged were the outcome of corporate political mobilization and the exercise of class power. Although innovative forms of financing first emerged in the manufacturing sector, the energy and finance sectors were the most aggressive advocates of neoliberal ideology to legitimate reregulation of corporations and markets. The organizational political economy framework shows that the ways in which dimension of the social structure are structured and the linkages among them explain the increase in financial wrongdoing in the late 20th century. State structures, corporate structures, and markets were reconfigured in ways that created opportunities for managers to engage in financial malfeasance, chicanery, and crime.
Harland Prechel, PhD, is Professor of Sociology and College of Liberal Arts Cornerstone Fellow at Texas A&M University.
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