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Full-Text Articles in Law
Those Who Ignore The Successes Of The Past Suffer Recurrent, Intensifying Crises, William K. Black
Those Who Ignore The Successes Of The Past Suffer Recurrent, Intensifying Crises, William K. Black
Faculty Works
No abstract provided.
Neo-Classical Economic Theories, Methodology, And Praxis Optimize Criminogenic Environments And Produce Recurrent, Intensifying Crises, William K. Black
Neo-Classical Economic Theories, Methodology, And Praxis Optimize Criminogenic Environments And Produce Recurrent, Intensifying Crises, William K. Black
Faculty Works
Control frauds” are seemingly legitimate entities controlled by persons that use them as a fraud “weapon.” A single control fraud can cause greater losses than all other forms of property crime combined. This article focuses on the role of neo-classical economic theory, methodology, and praxis is optimizing criminogenic environments that hyper-inflate financial bubbles and produce recurrent, intensifying financial crises. Financial control frauds’ “weapon of choice” is accounting. Neoclassical theory, which dominates law & economics, is criminogenic because it assumes that control fraud cannot exist while recommending legal policies that optimize an industry for control fraud. Its hostility to regulation, endorsement …