Question

What are the economic and human costs of White-Collar crime? How are the costs different from street crimes?

Please answer in 300 words.

Answer 1

White collar crime refer to the frauds and malpractices done by professional be it in business or in governmental setup.Basically the crime done by educated people or professionals who are there to serve the organisation but rather turn their profession to be personal profit making, these are moslty non violent

Economic costs and human costs of white collar crime are much more higher than the other cirmes or street crimes.Though there is a difference between the economic costs and human costs because economic costs are higher then the human cost of the white collar crime for the simplest reason being it is a kind of non violent crime but it does include the laws of human resource and skill of a country or an organisation.

The estimates show huge loss to economic conditions of a nation where white collar crimes are more prevalent because these destroyed the organisation business and governmental works of the country which eventually lead to the economic stagnation of the country. The human costs of white collar crime or not that height but they have a huge impact on the human resource system of a country.

Street crime suffers to the crimes that basically include violence, loss of life, these are basically committed by the people who are poor deprived or due to personal grudges that lead towards violent behaviours and aggression generally committed at a public place.

Differences from street crime basically include the difference of violence the white collar crimes are nonviolent why is the street crimes include violence. Also the white collar crimes have a larger impact on the economy as compared to the street crimes while the human cost of street crime and higher than that of the white collar crime. White collar crime is mostly done by professionals while the street crime is mostly done by people who are poor or deprived of opportunities. Another difference is white collar crime are done for profit making of personal financial gains whilst history crimes and done for event purposes sometimes financial gain other reasons.