Relationship between Neoliberal Ideology and Corporate Crime - Literature review Example

Q- Citing examples, discuss the relationship between neoliberal ideology and corporate crime Name: Date: Introduction The neoliberalism idea has manifested itself in different spheres of life. However, it can be dealt with to bring positive changes in the society. However, there have been diverse changes in the philosophy that has led to particular guidelines and law in different sectors such as religious, economic and even politics. Presently, the neoliberal belief system has great financial significance in the society. According to Lasslett (2010), the mentioned points of interest manifest themselves not only among individuals and countries but also organizations and corporations. There are several benefits associated with it, and some of these include minimizing the exchange deterrent between different nations and enhancing market flexibility. Nonetheless, in most cases the most significant result is in supporting few organizations, divisions and people. Consequently, there are consequences related to unequal force relations, there is possibility that high percentage of the public would end up swindled. The beneficiaries of the monetary framework have also expanded and doubled their efforts and are not prosecuted for their crimes in most cases. As a result of the mentioned, there exorbitant financial opportunities are created and a criminal performance or negative outcome is established. In most cases, a legitimate crime is one that has been recorded; however the crime scene, causalities and the guilty party are also recognized. Citing (), there are other forms of crime present in the neoliberal period and these include smuggling, white collar rimes, smuggling, poaching, corporation crime and environment related crimes. Most the mentioned rimes lack witnesses and can only occur if there are guilty parties. Therefore, it is evident that power results into great crimes in the society (Lasslett, 2010). Furthermore, it is challenging to examine the mentioned forms of crime. In the interim incidents, the causalities are portrayed as weak, silent or helpless; hence they not only conceptualize the fairness but also question the equity that exists within the neoliberal era. Additionally, the media do not place much emphasis on the crime that thrives due to the existing liberal standards. Instead, the media coverage of crimes results into street crime that attracts a lot of public attention. However, the media also disregard and overlook the rime particularly that of the guilty parties who are capable of committing the crime. To provide an explanation of the mentioned, the article would explore the coherence, correlation and the existing influence among the neoliberal and the present crimes using contemporary crime as an incident that has been rampant during the neoliberal period. It is important to note that the ramifications of the mentioned offences are linked with the viewpoints of life and the effects can be wide on the basis of time range. Harvey (2005), in his study examined the effects and the effectiveness of neoliberalism as a terror of market progress and dominance. In order to examine the corporate crime, the white crime and other crimes that exist in the earth surface, it would be recommendable to first define the neoliberalism theory. Harvey (2005) defines neoliberalism as a theory that assumes that the wellbeing of humans is progressed as a result of liberating the entrepreneurial skills of other individuals on the bass of institutional background. Furthermore, the government has the absolute authority to monitor the quality and integrity of finance. In the privatization process, the government remains the most powerful representation of social sectors; hence it distances itself from any form of welfare stance towards its citizens. Consequently, according to Anup Shah (2010), is the existing exchange between nations and it is less demanding in nature. It concerns itself more with the liberated development of assets, projects and merchandise that are offered with an aim of discovering the assets which are less costly to enhance productivity and benefits. To accomplish the mentioned, it can be argued that neoliberalism demands for formulation of different controls that are recognized as boundaries of organized commerce for instance laws, tax controls, administrative measures and enactment among others. The goal of the aforementioned measures is to ensure that the nations have the necessary capacities that would enable the free market to adjust normally by relying heavily on the requests from the business sector an aspects that contributes to success of the sector on the basis of economics. According to Shah (2010), the benefits of neoliberalism are to globalize the finance so that it can be valuable to all citizens and governments provided that there are effective capacities that can enable its growth. Additionally, neoliberalism have the objective of weakening the existing bureaucratic measures and liberate the market so that it can be dominated mainly by the financiers, bankers, investors and capital, and there is possibility of the societal bourgeois finally becoming the hegemonic in the monetary sector. The bourgeois have also heightened their expansive force with the end goal of gaining total control and realizing gains. It is also important to note that lack of ideal routine of neoliberalism in the market economy creates suitable medium for existence of cooperate crimes. White collar crimes According to Payne (2013), white collar crime is a crime that individuals with high social status and highly respected in the society commit during their crimes or while performing their duties. The crime is also committed by the dominant and educated people in the society. Citing Reiner (2007b), the rationale associated with white collar jobs is the fact that parties involved fear losing the benefits that was previously acquired. For example, in the Imclone Systems there was a scandal by one of the managers known as Martha Stewart. In the scandal, the manager sold her share despite having full knowledge that the Foods and Drugs Administration did not approve the Imclone. Furthermore, the value of the shares was reduced by approximately 18%. The mentioned is a clear indication that insider trader plays an important role an aspect that can easily corrupt firms as well as impact on lives. The two parties involved in the scandal were jailed because they were guilty for committing crime against the insider trade law. Another case that can illustrate the incident of white collar crime is a political loan scandal that took place in 2008. In the scandal, it was clear that large firms and government officials should work closely with one another (Moohr 2006). Corporate crime Clinard & Yeager (2006) defines corporate crime as the type of crime that not only overlaps but also covers the white collar crime. Citing Jewkes (2004),corporate crimes are those crimes that corporate officials commit for purpose of corporation gain. In most cases corporate officials bribe the government officials with an intention of committing crime such as dumping toxins and industrial wastes into lakes and rivers. According to Grabosky & Braithwaite 1987) corporate rimes are also referred to as quite crimes as individuals do not know whom to blame or aware whether they have been victimized. Furthermore, they are further linked to problems associated with data collection. There are different types of corporate crimes. Price fixing is whereby a limited number of particularly of controlling firms in a given market copy the lead of their competitors in hiking the prices. Overt price hiking entails subtle communication and secret meetings between competitors in particular industries. Some of the common forms of this include setting the prices at predetermined or similar levels. Another form is dividing the market into different regions with each firm promising to stick to its designated territory (Clinard & Yeager 2006). Another form of corporate crime is false advertising. This is whereby companies employ false advertising with the intention of enticing consumers to purchase the services or products that further offer some of the publicized benefits. Ferguson (2012) argues that most of the corporate crime emerges from carelessness, recklessness or lack of keenness to detail. For example, production line managers and line administrator might to have the expectation of the laborer being harmed if the production sector ensures the safety of others within the firm. Additionally, there is possibility of the corporate crime exposing different measures for example occupational health and safety to ensure safety and deal with security measures. A good example of the corporate crime in the U.S can be linked to the 2008 financial crisis. The crisis entailed the subprime mortgage crash that is commonly referred to as the housing bubble that involved selling the mortgage the lowest income earners in the U.S society. Magdoff and Foster Bellamy viewed the housing bubble as entailing the subjection to different forms of predatory lending to poor families in form of payday loans, mortgages and car. The persons were made to believe that they could pay the loans easily wile in real sense; it was the lenders who were going to benefit. Ferguson (2012) in his studies too perceives financial sector for example banking as a big criminal enterprise. He adds that the sector has the capabilities of concealing various financial transactions that have assisted crimes such as terrorism and financial fraud. However, despite the rampant corporate crime in the sector, the offenders receive minimal punishment. Reiner (2007b) on the other hand argues that the increase in neoliberalism particularly during the 1970s and the focus on the economic theory and policy shifted monetary factors that cause efficiency, inflation and other welfare benefits linked to free markets. Therefore, it can be further argued that instead of it being a systematic problem, the responsibility of poverty and unemployment is based on the poor and the jobless only. Crimes against the environment Mandiberg & Smith (1997) define crime against the environment as those rimes that violate the ideal environmental conditions and has negative influence on the earth. In the neoliberal period, the traders as well as the industrialists expanded their powers and authorities. However, there were possibilities of the empowerment resulting into negative results. For example, different statutory procurements are a representation of the present day toxic waste outflows to water, air and land resting into pollution that endangers the lives of human beings, plants and animals. In most cases, borders restrict environmental crimes that have the possibility of affecting the nation's security, economy and overall existence. There are various organized criminal networks that conduct pollution and wildlife crime. It is important to note that the same routes that criminals use to smuggle wildlife across continents and nations are also used to smuggle drugs, human beings and weapons. Indeed, environmental crime is associated with other forms of offences such as money laundering, corruption, passport fraud and murder. Conclusion It is evident that neoliberalism theory ha different definitions. There are different life instances that can be linked to it. In case, there are changes in the theory, most organization models make rules and laws in different fields such as politics, finance and even the religious sector. Presently, due to neoliberalism there are financial advantages such as liberating the market with the objective of increasing and expanding the benefits to organizations and individuals. Furthermore, because of neoliberalism, there are new forms of crime such as corporate crime, white collar crime and crime against the environment. The perpetrators of the mentioned crimes are educated individuals who hold high social status in the society. References Clinard, M. B., & Yeager, P. C. (2006). Corporate crime. New Brunswick, N.J: Transaction Publishers. Ferguson, C. (2012) Inside Job. Oxford. Oneworld Publications. Grabosky, P & Braithwaite, J 1987, “Corporate crime in Australia”. Trends & Issues In crime and criminal justice. AUSTRALIA INSTITUTE OF CRIMINOLOGY. Harvey, D. (2005). A Brief History of Neoliberalism. Oxford, Oxford University Press. Henry N. Pontell, H N & Geis, G L 2010, “International Handbook of White-Collar and Houston Law Review, Vol. 43, p. 592. Houston Law Centre No. 2006-A-23.. Jewkes, Y. 2004. “Media and crime.” Key approaches to criminology; Thousand Lasslett, K. (2010). Crime or social harm? A dialectical perspective. Crime Law and Social Change. 54:1–19. DOI 10.1007/s10611-010-9241-x. Mandiberg, S. F., & Smith, S. L. (1997). Crimes against the environment. Charlottesville, Va: Michie. Moohr, G S 2006, “What the Martha Stewart Case Tells Us About White Collar Crime”. Oaks: SAGE. . London Payne, B. K. (2013). White-collar crime: The essentials. Thousand Oaks, Calif: SAGE Publications. Reiner, R. (2007b). Neoliberalism, Crime and Justice. Cited in, Roberts, R. McMahon, W. (Eds.) Social Justice and Criminal Justice. London. (pp. 8 -21) Retrieved from: www.crimeandjustice.org.uk. Shah. A 2010, “A Primer on Neoliberalism”. Global Issues. http://aic.gov.au/media_library/publications/tandi_pdf/tandi005.pdf> viewed 20 May2016 Read More

It is important to note that the ramifications of the mentioned offences are linked with the viewpoints of life and the effects can be wide on the basis of time range. Harvey (2005), in his study examined the effects and the effectiveness of neoliberalism as a terror of market progress and dominance. In order to examine the corporate crime, the white crime and other crimes that exist in the earth surface, it would be recommendable to first define the neoliberalism theory. Harvey (2005) defines neoliberalism as a theory that assumes that the wellbeing of humans is progressed as a result of liberating the entrepreneurial skills of other individuals on the bass of institutional background.

Furthermore, the government has the absolute authority to monitor the quality and integrity of finance. In the privatization process, the government remains the most powerful representation of social sectors; hence it distances itself from any form of welfare stance towards its citizens. Consequently, according to Anup Shah (2010), is the existing exchange between nations and it is less demanding in nature. It concerns itself more with the liberated development of assets, projects and merchandise that are offered with an aim of discovering the assets which are less costly to enhance productivity and benefits.

To accomplish the mentioned, it can be argued that neoliberalism demands for formulation of different controls that are recognized as boundaries of organized commerce for instance laws, tax controls, administrative measures and enactment among others. The goal of the aforementioned measures is to ensure that the nations have the necessary capacities that would enable the free market to adjust normally by relying heavily on the requests from the business sector an aspects that contributes to success of the sector on the basis of economics.

According to Shah (2010), the benefits of neoliberalism are to globalize the finance so that it can be valuable to all citizens and governments provided that there are effective capacities that can enable its growth. Additionally, neoliberalism have the objective of weakening the existing bureaucratic measures and liberate the market so that it can be dominated mainly by the financiers, bankers, investors and capital, and there is possibility of the societal bourgeois finally becoming the hegemonic in the monetary sector.

The bourgeois have also heightened their expansive force with the end goal of gaining total control and realizing gains. It is also important to note that lack of ideal routine of neoliberalism in the market economy creates suitable medium for existence of cooperate crimes. White collar crimes According to Payne (2013), white collar crime is a crime that individuals with high social status and highly respected in the society commit during their crimes or while performing their duties. The crime is also committed by the dominant and educated people in the society.

Citing Reiner (2007b), the rationale associated with white collar jobs is the fact that parties involved fear losing the benefits that was previously acquired. For example, in the Imclone Systems there was a scandal by one of the managers known as Martha Stewart. In the scandal, the manager sold her share despite having full knowledge that the Foods and Drugs Administration did not approve the Imclone. Furthermore, the value of the shares was reduced by approximately 18%. The mentioned is a clear indication that insider trader plays an important role an aspect that can easily corrupt firms as well as impact on lives.

The two parties involved in the scandal were jailed because they were guilty for committing crime against the insider trade law. Another case that can illustrate the incident of white collar crime is a political loan scandal that took place in 2008. In the scandal, it was clear that large firms and government officials should work closely with one another (Moohr 2006). Corporate crime Clinard & Yeager (2006) defines corporate crime as the type of crime that not only overlaps but also covers the white collar crime.

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