In the modern world, large companies develop rapidly, which opens up opportunities for them to grow even more. However, sometimes corporations use their power and authority to become stronger and earn money by illegal means. Such actions can be considered White Collar Crime, moreover, it can harm many persons. The goal is to analyze the cause of such behavior and its consequences for other people.
This problem is especially acute in the pharmaceutical industry. Usually, big companies use their strength and resources to advertise a certain new product, made with maximum savings for maximum profit. An example would be the Swype Shield production, which is allegedly effective against the COVID-19 disease (Payne, 2021). However, the FDA doubts the function and quality of this product, which implies massive consumer fraud. Moreover, there is no data about the long term consequences of taking Swype Shield, which formulates the potential threat to an individual in the future.
The reasons why large companies take such actions can be divided into personal and global. Personal reasons include the nature of the owner and one’s desire to be above everyone at any cost, often by illegal means. Such people will stop at nothing to achieve their goal, although they can harm other individuals. Unfortunately, when such a person is in power, the consequences can be unpredictable, and the white-collar is a popular tool.
I might have been harmed by such actions if I had trusted this product and started using it. Firstly, as it supposedly helps with COVID-19, I would lose time not taking other medications, which could lead to complications. Finally, no one can ensure the long-term effects of this drug, which may also harm me in the future. Thereby, white-collar crimes are often used by big companies to get rich illegally, which can hurt many people.
Payne, B. K. (2021). White-collar crime: A systems approach. (3rd ed.). SAGE Publications.