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NCJ Number: 152628 Find in a Library
Title: Speculators: Culture, Economy and the Legitimation of Deviance
Journal: Crime, Law and Social Change  Volume:21  Issue:3  Dated:(1994)  Pages:229-251
Author(s): C Stanley
Date Published: 1994
Page Count: 23
Type: Survey
Format: Article
Language: English
Country: Netherlands
Annotation: This paper continues and develops the thesis that deviant activity in financial institutions in the City of London, England has become legitimated in the sense of the failure of external regulatory controls to enforce order against the internally generated subcultural codes of practice.
Abstract: These codes have developed as a result of economic forces (the ideology of excellence in the enterprise culture) and globalization (the technological revolution). The thesis originally focused on the period 1984-89, which was characterized as Casino Capitalism. The current development of the thesis examines its continued relevance and proposes several additional supporting elements as well as examples in its use as a critique of deviant financial activity. The discussion goes beyond the usual assumptions regarding white-collar crime toward a broader framework of analysis in explaining the nature of deviant behavior in London's financial markets. 41 reference notes (Author abstract modified)
Main Term(s): Criminology
Index Term(s): Bank fraud; Crime in foreign countries; England; Financial institutions; Regulations compliance
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