A dubious legacy.

• Author: Munk, Bernard
• Position: Disorganized Crimes - Brief article - Book review

From Disorganized Crimes by Bernard E. Munk. Copyright [c] 2013 by the author. Published by Palgrave Macmillan (www.palgrave.com).

CORPORATE GOVERNANCE is deeply embedded and dependent upon our system of political governance. We must realize that no governance system can prevent all crime. There will always be individuals and groups who test the limits of any system. We should not assume that the prevention of all crimes, economic or otherwise, is without cost or even a desirable metric for success. There is a continuing need to balance between the costs of preventing crimes and the actual cost of crime. Disorganized crimes arising from corporate governance failures are crimes nonetheless but the same cost/benefit principle applies. It is always a comparison of risk versus return.

Our legislative and policy responses have tried to regulate behavior that is extremely difficult to control and to intervene when the authorities deem it too dangerous not to intervene. That is an arbitrary and difficult policy path to implement. Intervention...