Against the Rules with Michael Lewis On Background: White-Collar Crime and Punishment
23 snips
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.
AI Snips
Chapters
Books
Transcript
Episode notes
Origin of Interest
- Eugene Soltes' interest in white-collar crime began by watching the show Lockup.
- He wrote letters to white-collar criminals featured in the news, leading to prison interviews and his book.
Simplified Narratives
- People simplify white-collar crime narratives, wanting clear villains and easy explanations.
- This hinders understanding the root causes and preventing future occurrences.
Coining the Term
- Sociologist Edward Sutherland coined the term "white-collar crime" in the 1930s.
- His book highlighted illegal company actions that weren't legally classified as crimes.
