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STUDIES OF CRIME seriousness have existed since at least 1964. Those studies generally found that respondents perceive crimes of violence to be more severe than property crimes. Also, most of those surveys have found that there is consensus between different populations on ratings of crime seriousness. Most of these studies have looked at citizens' perceptions of severity of crimes, without a clear definition of what is meant by crime seriousness or severity. Generally, the only concept common to all definitions of crime seriousness has been the idea of perceptions of crimes. Furthermore, many of theses studies placer a greater emphasis on traditional core offenses, such as murder, robbery, and assault, than on white-collar offenses, and crimes committed by corporations.

Those studies that have compared white-collar and corporate offenses with traditional crimes and, so called victimless crimes, have found mixed results. Some studies have found that respondents assume that all crimes are, on average, of similar seriousness. Other studies, such as one of prosecuting attorneys, have found that white-collar crimes are not perceived to be nearly as serious as traditional street crimes. This lack of seriousness associate with white-collar and corporate offenses may be the result of a couple of related reasons. Until recently, white-collar crimes were rarely the fodder of news reports, in favor of more traditional street crime, particularly violent crimes. The second reason for this may be that many people have not considered the severe consequences of white-collar and corporate crimes.

If citizens were to consider the cost or consequences of white-collar crimes, their perceptions of the seriousness of such crimes might be much higher. This suggested outcome is demonstrated in a 2001 study by Sean Rosenmerkel, in which he surveyed 268 college students on their perceptions of the seriousness of the traditional street crimes versus white-collar crimes. He found that traditional violent crimes were rated as more serious than white-collar crimes. White-collar crimes were perceived as being more severe than traditional property crimes. The same trend proved true for respondents perceptions of the wrongfulness and harmfulness of the different types of crimes. Given media attention to high profile white-collar crimes it may not be surprising that the respondents perceived white-collar crimes to be more serious, harmful, and wrong than property crimes.

James F. Short, Jr. and Laura Schrager, have noted that there are three costs or consequences of white-collar crime. The first consequence is the financial cost of white-collar crime. In 1987, the FBI estimated the annual cost of white-collar crimes to be a high as $200 billion dollars. Since the media has begun to report on large white-collar crimes, it appears that the FBI's previous estimate may at best represent a small part of the financial costs of white-collar crimes.

The second consequence of white-collar crime is the physical or human costs. The FBI Uniform Crime Report shows that there were 16,204 murders in the United States in 2002. Deaths from white-collar crimes are probably higher than that if one takes into account such things as unsafe products, tainted foods, unnecessary surgeries, and work-related deaths.

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