Over the past few decades, the US justice system has gone from effectively punishing white-collar crimes to slapping corporations on the wrist while senior managers avoid accountability. Fortunately, there are relatively simple ways to give resource-strapped prosecutors the tools they need to uphold the law.
Crime is essentially rent-seeking. It leads to economic inefficiency (waste) and skews market-based distribution, in addition to being unethical, immoral and illegal, hence, socially damaging.
How to Deter Corporate Crime Like We Mean It
John C. Coffee, Jr. | Professor of Law and Director of the Center on Corporate Governance at the Columbia Law School
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