Concurrent Session: The Criminal Causes of the Economic Recession*

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Session Type: Extended Program 3

Session Capacity: N/A

Hotel: N/A

Room: Trafalgar

Floor: Third Floor

Conventional economics has typically ignored "control fraud" -- frauds in which the person that controls a seemingly legitimate entity uses it as a "weapon" to defraud.  White-collar criminology, however, has developed multidisciplinary theories to explain why epidemics of control fraud occur and how such epidemics contribute to financial bubbles and crises.  Criminologists draw heavily on economic theory in synthesizing their multidisciplinary theories about control fraud.  Their socio-economic theories have proven effective in identifying control frauds, the conditions that create criminiogenic environments most likely to produce hyper inflated financial bubbles, and effective praxis that could improve regulation, enforcement and prosecution.