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Do you think the harsh estimates China ( see interfaces in link) takes to dispose of white collar crime is pretty much powerful than our framework? https://www.businessinsider.com/chinas-madoff-was-executed-in-secret-2013-7

https://www.youtube.com/watch?v=YZI_5gMNnEU

Answer 1

Certainly the kind of punishments meted out in China are more effective in deterring white collar crimes than our framework. The harshness and speed of punishment cause a lot of fear in the individuals which prevent such crimes. However it is to be considered whether such punsihments are humane. Some of the measures taken by the Chinese government are inhuman and unethical for example the prosecuted person was not even allowed to meet his family and secretly executed. This creates fear for the law rather than respect for it. Also there is a possibility of mistakenly punishing the wrong person which becomes an irreversible measure.

In our framework, white collar crimes genearlly get away with it. They gather a huge amount of wealth and power which works in their favour and so they are able to use political or other connections to reduce their punishments. This does not deter other people from committing similar crimes since they know that they can use power to minimize their punishments. Also after w hile they can get bail or appeal in higher courts to get away. The law officials can also be bribed for reducing the sentence.