How Corruption Affects The Public And Private Sectors Of Our World

1306 Words Apr 24th, 2016 6 Pages
Introduction
Corruption is a multidimensional phenomenon with numerous causes and effects in the public and private sectors of our world. This dark trend has no boundaries, it is found in every country ranging from the economic leaders down to the least developed nations. The official definition given for corruption by Transparency International is “the abuse of entrusted power for private gain” (TI). The problem of corruption has been seen either as a structural problem of politics and economics or as a moral problem formed by culture. All nations do not define corruption in the same way and in turn different types of legislation have been drafted to protect the public good. Some countries like Russia and China have lax legislation against corruption because it is engrained in their culture and have become havens for certain types of corrupt business practices. While other countries like the U.S. and Denmark are leaders in creation of anti-corruption policy that protects their domestic economies, for example the Foreign Corrupt Practices Act enacted by the U.S. Congress in 1977 (Reed). Corruption is a continuing problem in globalization that will only grow more complex in the age of ever changing technological advances we face now.

Scales and Methods of Corruption
Corruption can take place on many different scales ranging from powerful governments down to small public officials. Transparency International’s website gives helpful information about the different scales…
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