Corporate Crime Vs White Collar Crime

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Corporate Crime
There are two major types of crimes out in the world, one of them is street crime and the other being white collar crime. Can one be worse than the other possibly but at the end of the day these two crimes are both bad. We as a society have police men making sure we follow the laws and protecting us from harm, but who’s watching over the white collar criminals do we have a deterrence just making sure that they don’t break the laws like our police watching us. Now there are many different types of white collar crimes out there, but one I would like to focus on is corporate crime. Corporations do many illegal things on Sutherland’s White Collar Crime research, he examined seventy companies and said “out of those seventy companies
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There has been evidence that kings made efforts to prohibit monopolistic practices in the markets in the 12th century. (Friedrichs 1996 262-263) The first anti-trust law was introduced in 1889 and was called the Sherman Act by congress and had a fine of 5000 dollars and up to one year in prison. But in 2004 the fines and the prison time was increased to 1-10 years in prison and 100 million dollar fine for corporations. The anti-trust act prohibits many different laws, one of them being preserving free and unrestricted competition as the rule of trade. Meaning big corporations have to play fair when they have competition, they cannot try to sabotage one another by having their partners only to trade with you, thus getting rid of your competition. Another example of this is decreasing the price values until your competition can’t compete, afterwards increasing the prices once they're out of business. The Sherman Act was not perfect, but it worked and in 1914 congress enacted another part of the anti-trust law which was the Clayton Antitrust Act. This act made it illegal for corporations buying other companies of the same product just to reduce their competition. Many companies ignored this act such as the Pittsburg coal company who adopted a policy of uniform prices to eliminate competition in 1914. (Sutherland …show more content…
Now this might just seem like inflation to people, but pharmaceutical companies do this all the time. They do this when they buy companies or merge with companies that sell the same product in order to get a fixed price and making them the only available product like the epipen. This is because merging with companies and or buying companies is like getting rid of your competition. And with no competition you can put the price of the product to whatever you may seem worthy since your product is the only one in the market or you control both products and don’t really care which one sells because you just raised the price on both. The epipen has been going up in price ever since 2001 and now has a 600% increase in price since then. The price back then was $75.80 for a pack of 2 but now they are $614.07. What makes the epipen product so unique is that it is a pharmaceutical company, now when many people think of crimes that take place within businesses; many don’t think of pharmaceutical companies are doing this but in this case they are. Many companies have to buy or acquire other companies that sell the same product but in the epipens’ case they are the only one of its kind eliminating any competition because they have no competition. What could be behind epipens price gouging in recent years since, when the epipen was acquired by Mylan, and ever since then

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