This study explores how financial executives retrospectively account for their crossing the line into financial statement fraud while acting within or reacting to a financialized corporate environment. We conduct our investigation through face-to-face interviews with 13 former C-suite financial executives who were involved in and indicted for major cases of accounting fraud. Five different themes of accounts emerged from the narratives, characterizing executives’ fraud immersion as a meaning-making process by which the particulars of the proximal social context and individual motivations (...) collectively molded executives’ vocabularies of fraud immersion. Our executives’ narratives portray their fraud entanglement as typically occurring in small, incremental steps. Their accounts expand our understanding of the influence of socialization on executive-level financial fraud beyond the individualized focus of the fraud triangle model. (shrink)

American historians have generally accepted Richard Hofstadter's thesis that the scientism of Social Darwinism, or more appropriately, Spencerianism, dominated American thought in the late nineteenth and early twentieth century, and nowhere more enthusiastically or more purposively than within the conservative business community, which used Herbert Spencer's scientism to justify corporate business practices and to rewrite American Constitutional law to protect property interests against governmental regulations. Following Sharlin's general exposition of Herbert Spencer's scientism, this paper examines in detail the validity of (...) the Hofstadter thesis as applied to the notorious Lochner v. New York Supreme Court opinion of 1905. The conclusions drawn from this analysis are offered as a repudiation of the generally accepted belief that it was the conservative activists on the Court who were guilty of Spencerian scientism. On the contrary, the argument is presented that it was Justice Holmes and the liberal reformers who found the evolutionary doctrines of Spencer congenial to their efforts of identifying needed reinterpretations of the American Constitution with biological evolution. (shrink)