Cost and Consequences of White Collar Crime in America

2021-05-21 22:44:49
7 pages
1935 words
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The white-collar crimes are the financial-motivated crimes. They are nonviolent and commonly committed in organizations. It consists of the full range of the frauds perpetrated by the business and government officials heading different positions. They have various characteristics such as violation of trust, depict, and concealment and are not associated with any threat or physical harm. The primary objective behind the crime commitment is financial gain, an evasion of losing a given amount of money. Although these crimes are common, they are not given enough consideration and do not attract the public attention like blue collar crimes. They have adverse consequences like destroying companies rendering many people jobless, and costing investor loss of billions. The objective of the writing is to critically analyze Grahams work about White Collar crime and the United States Economy.' The paper outlined the consequences of the white collar crimes to the country but biased to the economic aspect.

Background Information

Information about the Work

Title. The title of the article is White Collar crimes and United States Economy. According to the title, the article is expected to give a deeper understanding of the white collar crimes. Besides, it is also projected to highlight the impacts of the white collar crimes on the economy. Different controversies surrounding the topic will also be addressed in the article. According to the article, the vice has many negative impacts on the economy of the country. Some of the problems highlighted include losses incurred by the investors and unemployment.

Author. The author of the article is Megan Graham of the University of New Hampshire-Main Campus. The paper was a representation of senior honors thesis in the department of management majors of business administration. It was written in the year 2012. In the thesis, he attempted to study the cost of white crime in the United States of America.

Publication information. The paper was published in the year 2012 as an honors thesis in the University of Hampshire-main campus. The paper was written upon extensive research on the impacts of the white collar crimes on the economy. The authorized university administrator has accepted it for inclusion as Honors theses.

Statement of the Topic and Purpose. The paper aims at studying the white collar crimes and its impact in the country especially the economic consequences. It gives close focus on the areas in the white collar crime that are not looked into when deciding the price tag of the white collar crime. It is noted that the white collar crime is widespread in the business, organizations, and in government departments. People are manipulating the systems to earn financial gains, and causing a lot of harm to the economy. Many people do not understand what white collar crimes are. It is not common as the blue collar crimes like murder, rape, and robbery (Fairclough, 2013). These crimes cause alarm to the public than White collar crimes. They stir up the emotions and feeling on the people of all the classes. They are keen to get more news about blue collar crimes. The nature of the offense makes it like a big focus in the media. It is not even driven by evidence when budgets about crime prevention are made. The purpose of Grahams work is to give focus areas about white collar crimes that are not given enough concern in public and in the media.

Thesis Statement Indicating Main Understanding, Synthesis, and Reaction to the Work

Summary Description of the Work

The author of the paper starts by recognizing the blue collar crime as horrific and adding that it requires its focus in the paper and also in the society that is media. The public understands it as expensive and emotional with the capability of ruining someones life. The nature of the white collar crimes and blue collar crimes varies. As of the blue collar, the impact is direct on the populations affected. Its effect causes direct harm to the immediate community of the group of people. However, the white collar crimes do not have a direct bearing on the community, but the impact can be felt after a considerable period (Simpson, 2013). For instance, a corruption that happens to companies can result in loss of jobs to many people after a year where the business is closed down. Population in the immediate surrounding will hear of the murder that happened in the state, but people in other states may never know that something happened. On the other hand, the white collar crime due to its high financial loss to the community will be widespread to many states. The corporate failure from scandals will have a severe impact on many people.

Despite the widespread and impact of white collar crimes, they do not receive a considerate focus and budget meaning that the incidence of the vice is not being measured. The enormous and adverse impacts of the crimes such as losing jobs, increase in price for consumer products, court cost, and the actual cost of the offenses are costly and ought to be put in consideration. Since these ripples are very expensive and receive less focus in media and budgeting is an indication that their total cost is not accounted (Shover, Hochstetler, & Alalehto, 2013). It is impossible to measure the impact of the white collar crime ripple because some are felt years later after the scandals. However, the immediate costs are high and warrants higher resource allocation in the budget.

The paper differentiates the blue collar crimes and the white-collar crimes for the reader to capture the difference. They are given as the class of crimes that are committed mostly by the lower social class citizens, and which result from passion rather than deliberation. Good examples are the crimes committed against people, against gambling, drug abuse, and among others that cause immediate injury to the community (Megan, 2012). According to the paper, blue collar crime are expensive costing approximately $14 million yearly. The cost seems like much until when it viewed with the perspective of the white collar. According to Megan (20120, white collar crimes cost 14 times as the latter does, which is approximate $200 million per year.

The news headlines are mainly composed of the blue collar crimes headlines, and few try to highlight the white collar crime headline because it does not have the desired impact on the people. The reason given is that the primary focus of the local news is on the events that have higher visual intrigue such air crashes, homicides, and stories that have less visual impacts are usually ignored in the news (Megan, 2012). With this type of story production, the public will only be inclined towards the violent crimes as the main concern only. A market research carried out by the Mediascope, not for profit organization found out that headlines and stories of crimes and violence increase the rating of newscasts (Megan, 2012). If people are always briefed against the violent crimes, they will feel insecure and in turn demand more allocation of more funds to the blue collar crimes prevention. They will not mind the scorching impact of the white collar crimes, and it the possible reason it is receiving less budget to control it as per the author. They add that often the blue collar crimes are the ones that are commonly reported despite the fact that white collar crimes make a significant monetary impact.

There are more reasons highlighted by the article as to why the white collar is receiving less budgetary and concern from the public. The first one is that blue collar crimes are exaggerated, which has led to changed outlook of the world. The arguments are being made to control the white collar crimes, increasing public safety and making the punishments for convicted criminals harsh. The cry of the public makes the government give it lion allocation in the budget. The author is nor against reporting the blue collar crimes, but argues the media include the economic impact of the offenses to change the perception of the public (Levi, 2013). He continues to argue that the press should focus on the things that cause massive destruction on the economy. It can be done by including the white collar crimes in the headlines and coverage together with its economic damage. The little sentences given to the managers is not enough, and furthermore, it does not rectify the damage already done by the act. Many families are languishing in poverty because of unemployment caused by corporate scandals, lack of government revenue once the business is closed down among others. The sentence of the few directors is far much less that the impact already caused, and cannot be compared to the jailing of few people.

There are few reasons highlighted in the paper that make measuring of the total cost of the white collar crimes hard. The very first reason is that the white collar crimes encompass many forms of crimes, and these areas are not well defined as debatable. According to Megan (2012), the white collar offenses include internet fraud, antitrust violations, bankruptcy fraud, tax evasion, health care fraud, government fraud, bribery, kickbacks, and insurance scams among others. The main goal of the paper encourages the public to be capture that cost that is incurred when a white collar crime is committed. Although the exact value of the white collar crimes is difficult to establish, the study of the ripples will show that more resources should be allocated for the prevention of white-collar offenses because the after-effects are devastating and disastrous (Megan, 2012).

Interpretation and Evaluation

Discussions of the Works Organization

The author has made perfect work organization. The paper is interesting to read because the ideas are chronological from the introduction of the work to a conclusion that also summarizes the whole paper. The paper starts with a substantial introduction about that introduces the reader to a broader understanding of the white collar crimes. He goes ahead to differentiating it with the blue collar crimes to avoid the chances of confusing the reader. The problem statement is explained by the background if the topic enabling the reader to understand why the paper is important. The identification of the gap in the current research in the problem statement will keep the reader on the paper until he gets the full information about the gap created in the introduction (Fairclough, 2013). The composition of the problem is defined, as the little allocation of the funds to fighting white-collar crimes. The money that is allocated to the blue collar crimes is more than that allocated to the white collar crimes despite that fact that the impacts of the white collar are 14 times that of blue collar crimes.

The information introduced in the purpose statement is evidenced in the paper development by the presentation of the money statistics. The cost of the white collar crimes is compared to the expense of blue collar crimes. There are no assumptions in the paper, and the author goes ahead to explain why more focus is given to the blue collar crime. It introduces two main reasons why they get more attention that is they give media more attention, and they are more interesting to listen.

The definition of the crimes confuses the reader. However, the author defines what comprises blue collar crimes to clarify and keep the reader focused on the difference between the two categories of the crimes. On understanding the blue collar crimes, the author elaborates about the white collar costs. It is achieved through the study of the rifles caused by the vice. General statistics and the police allocation are given to support the arguments of the author. The diagrams show that the award of the blue collar...

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