[jimkleiber]

I think it depends on how we define victim, and especially how direct and tangible the harm needs to be to be considered a victim.

But maybe it also has to do with whether people feel victimized. If no one felt victimized, would we punish?

So I imagine it's probably a combination of who feels victimized and who society believes should feel victimized. Because as others may respond, white-collar crime has people who get harmed as a result of the actions, even if it's not as obvious as the person directly punching them in the face.

One could argue that even the fact of breaking the law can harm those who went through great lengths to not break the law.