'The Political Economy of White Collar Crime in New Zealand: 1972 – 2000'

Abstract

This thesis critically examines the concept of white collar crime and examines the impact that it has on New Zealand's economy and society during the last quarter of the twentieth century. It provides an in-depth analysis and discussion of what white collar crime is and why it is that there has been so much controversy surrounding this type of offending. It provides an analysis of what 'crime' is and examines the complex relationship between crime, social harm and morality. The thesis then provides a theoretical explanation for why it is that white collar crime occurs. It examines how the distribution of opportunities interacts with guardianship and the social bonds that bind high status individuals to the wider society. In doing so it analyses how social and economic changes have interacted to generate white collar offending in the latter part of the twentieth century. An analysis is provided of the economic transformation of New Zealand that took place during the nineteen eighties and early nineteen nineties. The ideology behind the reforms is examined and critiqued. This is followed by a history of the main regulatory bodies which govern the financial markets and regulate corporate fraud. The unique New Zealand response to insider trading is analyzed and compared with the response that other developed nations have taken. Following this an analysis of the impact of deregulation on the operation and functioning of the sharemarket and the wider economy is provided. This is then explored in greater depth in a series of case studies which trace how white collar has been both the product of the social and political changes, and also has, in turn, impacted on the changes themselves. In conclusion, the thesis argues that white collar crime has had a significant impact on New Zealand society and that it has been largely ignored and neglected when discussion has focused on 'the crime problem'.