Accounting ethics. Accounting, Finance, SPSS Essay (Essay Sample)
White-collar crime refers to financially motivated nonviolent crime committed by business and government professionals. Within criminology, it was first defined by sociologist Edwin Sutherland in 1939 as "a crime committed by a person of respectability and high social status in the course of his occupation".
Many contend that given the cost of incarceration ranging from $33,000 to $75,000 annually per inmate, depending on the state, that society should not lock up white collar criminals and other forms of punishment and retribution should be employed.
On the other hand, there is evidence that fear of jail and prison is a significant deterrent to white collar crime.
What do you think? How should white collar crime be dealt with and what are the pros and cons to each side.
One of the raging issues in the field of accounting and ethics is whether to jail while-collar criminals or not. In a functional society, the judicial system is supposed to treat all citizens equally, regardless of their financial status or power. Due to the high costs associated with the incarceration of white-collar criminals, some argue that they should be given special treatment to save the taxpayer money.
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