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Thu Jun 4, 2015, 09:58 AM

The Murdoch Effect and the Continuing Bankster Crime Wave

By William K. Black
Quito: May 30, 2015

One of common characteristics of the two epicenters of the elite banking fraud epidemics – the City of London and Wall Street – is Rupert Murdoch’s newspapers’ repeated efforts to create a criminogenic environment in both financial centers by cheerleading the regulatory race to the bottom. Murdoch’s papers also act as apologists for the resultant epidemic of elite banksters’ crimes.

One of the bit players that the Wall Street Journal has deployed as part of this apologia is particularly interesting for white-collar criminologists. The setting, as always on the WSJ’s editorial pages, is that the writers are overwhelmingly the most extreme right wing ideologues. The only criminological theory that the right wing loves is “broken windows.” The WSJ presented an op ed by Heather Mac Donald of the hard-right Manhattan Institute. The title gives a good feel of the extreme claim she is making: “The New Nationwide Crime Wave: The consequences of the ‘Ferguson effect’ are already appearing.”

It turns out that she has no nationwide data supporting the existence of a “new nationwide crime wave,” no basis for establishing the existence of a “Ferguson effect,” and no basis for demonstrating that the purported effect that a notorious police chief invented caused the “nationwide crime wave” that she cannot demonstrate exists. Instead, she quotes mostly figures on one month rates of some crimes in some cities or portions of cities. No social scientist would consider this approach reliable, but then she is not a social scientist but a “non-practicing lawyer.”

It also turns out that the invented “Ferguson effect” is the label of one of the police chiefs most criticized for his force’s cultivation of terrible relationships with the black community and his embrace of militarized policing. Mac Donald complains that blacks complain when white police shoot unarmed blacks:

in full: http://neweconomicperspectives.org/2015/06/the-murdoch-effect-and-the-continuing-bankster-crime-wave.html#more-9485

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