Wasted potential – Towards a criminology of the financial crisis

Cool Criminology

An undeniable advantage of being a criminologist is that it sounds cool. Granted, the coolness factor of saying, ‘I’m a criminologist’ wears off quickly, usually when you admit that you cannot solve crime, are not a profiler and know little about psychopaths. But criminology is still one of the flashier branches of sociology.

Critical criminology is especially cool. We fight the system and question cultural hegemony. We investigate the criminal justice system and modes of surveillance. We challenge definitions of crime. We like hanging out with drug dealers, refugees, prostitutes or anyone, really, who is perceived as deviant by mainstream society.

There are many different schools of thought within critical criminology. We may have our differences, but we can all agree on who we are not like: financial analysts and bankers, clean-cut, serious people in suits who have starting salaries tenured professors can only dream of – those people we all know who sit in steel and glass towers and play with highly complex mathematical models, who can make millions at the wink of an eye. We criminologists may work with concepts like capitalism, neo-liberalism or consumer culture. But we mostly look at how they affect people at the bottom of the social ladder. Rarely do we look at those prospering from our current financial system.

This is a problem

This is a problem because in 2007 our financial system crashed spectacularly, and we as criminologists have not made any meaningful contribution to explaining why it happened, and how it can be prevented from happening again.

Our failure to tackle this topic is symptomatic of a hole in the very fabric of criminology: the discipline’s failure to research and theorise those in positions of relative power ...

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