ABSTRACT
This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book. The book argues that there is a variety of reasons to explain this, and will use new counter theories such as de-labelling, deviancy attenuation and immoral phlegmatism as the lenses through which to explore these events. It begins with moral panics, deviancy amplification and labelling, the theories these counter-theories are built upon, before using the example of benefits fraud in the UK, which, it is argued, fits with many of these well-established theories. The book demonstrates that banks such as HBOS and Lloyds TSB did not pay sufficient attention to consumer protection. It identifies theoretical propositions about the nature of technology in constructing financial markets, and by extension, financial crises. The book explores the central importance of financial markets and institutions to a successful economy and society, and seeks to understand the inherent institutional challenges around scale, complexity and information asymmetry.
