The term "criminogenic capitalism" was coined by criminologist Kevin Haggerty in his book "Crime and the Risk Society," published in 2002.

Haggerty argued that the rise of the risk society, characterised by an increasing reliance on markets and individual responsibility, has led to a situation in which crime is seen as a normal and inevitable part of the social and economic landscape. He argued that the pursuit of profit has come to dominate all other values and that this has had a corrupting influence on society, leading to a range of social and environmental harms.