Against the Rules with Michael Lewis
On Background: White-Collar Crime and Punishment
Mar 14, 2023
Eugene Soltes, a Harvard Business School professor and author of "Why They Do It," dives deep into the motivations behind white-collar crime. He discusses how societal perceptions have shifted over the decades, particularly regarding high-profile cases like FTX and Bernie Madoff. The conversation reveals the psychological complexities of these criminals, the challenges of prosecuting white-collar offenses, and the harsh realities faced by offenders post-incarceration. Soltes stresses the importance of understanding ethical dilemmas in the business landscape.
39:25
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Quick takeaways
- Humility and self-awareness can prevent white-collar crimes by promoting mindful decision-making and consideration of consequences.
- Unbiased evaluation of organizations and individuals is crucial in identifying potential risks and preventing white-collar crimes.
Deep dives
The Evolution of White Collar Crime
The podcast discusses the historical perspective of white collar crime in America and explores whether leniency or toughness has prevailed over the years. Eugene Soltas, a professor at Harvard Business School, shares insights from his book 'Why They Do It: Inside the Mind of the White Collar Criminal' and his interviews with convicted white collar criminals. He highlights the complexities of white collar crime, the lack of awareness around its consequences, and the challenges in prosecuting such crimes.
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