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date: 17 September 2021

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.

Keywords: white-collar crime, corporate wrongdoing, financial malfeasance, organizational structures, organizational political economy, public policy

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