Sociology 2266A/B Lecture Notes - Lecture 11: American Sociological Association, White-Collar Crime, Edwin Sutherland
4 Apr 2018
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In 1920, charles ponzi"s boston business, the security exchange company, was taking in more than a million dollars a week from investors. Ponzi guaranteed investors 50% interest on their principal in 45 days, saying he would buy postal coupons in spain for one cent, and cash them in america for six one cent stamps. Early investors did see 50% returns, and as a consequence, investments grew exponentially. However, ponzi was simply using money from new investors to enrich himself and pay o earlier obligations. Chicago school sociologist edwin sutherland rst conceived the term white collar crime in an in uential 1939 address to the american sociological society. Sutherland de ned white collar crime as crime committed by a person of respectability and high social status in the course of his occupation. Am example of white collar crime would be the collapse of texas-based enron in.
