Final answer:
The study of white collar and corporate crime is crucial due to the significant economic and societal impacts these crimes can have, often with insufficient legal repercussions for those responsible. Analyzing these crimes reveals disparities in the criminal justice system and the moral consequences for society, contributing to the development of policies that promote social equity.
Step-by-step explanation:
Some people think that studying white collar and corporate crime is especially important because these crimes can have vast impacts on society and the economy. Despite often being viewed as less harmful than violent crimes, the financial and moral damage caused by white collar crimes can be devastating. High-profile cases like Bernie Madoff's Ponzi scheme demonstrate the potential for immense economic loss, close to $50 billion in that instance. Integral concepts, such as conflict theory, suggest that societal power structures enable those in positions of international power to often evade severe legal penalties for their criminal actions, as reflected in the NFL domestic violence cases, with notably lenient jail sentences despite serious offenses.
Furthermore, corporate crimes committed by individuals in positions of power and influence, like investment CEOs and corporate lawyers, can perpetuate economic inequality and cause moral and spiritual damage. The study of corporate crime also highlights disparities in the criminal justice system and urges for policy changes to address these inequalities. Crimes like embezzlement, insider trading, and identity theft may significantly harm more people than some violent crimes, and the study of these allows for a more nuanced understanding of deviance and social control within society.