AS A RESULT OF THE COMMON MISPERCEPTIONS ABOUT ORGANIZED CRIME, THE AUTHOR CONTENDS THAT WE HAVE DEALT WITH UNREALISTIC DISTINCTIONS BETWEEN LICIT AND ILLICIT ENTERPRISES IN THE POLITICAL-ECONOMIC SYSTEM AND HAVE MAINTAINED A CONTINUING FOCUS ON THE INDIVIDUAL CRIMINAL RATHER THAN ON THE SYSTEMATIC ISSUES WHICH SERVE TO DEFINE ORGANIZED CRIME. IN THIS ARTICLE THE AUTHOR OUTLINES THREE PERSPECTIVES WITHIN WHICH A DEFINITION OF ORGANIZED CRIME MIGHT BE CAST: 1) AS A SOCIAL PHENOMENON TO BE ANALYZED AND UNDERSTOOD AS PART OF AMERICAN SOCIETY; 2) AS A SPECIFIC SET OF ACTS OR STATES OF BEING WHICH HAVE BEEN DEFINED AS ILLEGAL; AND 3) AS A POPULAR CONCEPT TO BE COMMUNICATED TO THE PUBLIC. THE AUTHOR PROPOSES AN ALTERNATE SYSTEM OF ANALYSIS WHICH VIEWS ALL BUSINESS ACTIVITY AS FALLING ON A CONTINUUM OF BEHAVIOR RANGING FROM VERY SAINTLY TO VERY SINFUL AND QUESTIONS THE USUAL SHARP DISTINCTION BETWEEN ORGANIZED CRIME AS ILLICIT ENTERPRISE AND SO-CALLED LEGITIMATE BUSINESS. (AUTHOR ABSTRACT)