Political Corruption By Government Officials For Illegitimate Personal Gain

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Throughout history, several sovereign nations across the world have been subject to political corruption by government officials for illegitimate personal gain. Corruption used to be a low profile line item; however, today it has reached heights at which the government must get involved to try to cover it up to ensure its secrecy and avoid exploitation. This instance is referred to as Crony Capitalism, which is a theory that has evolved from corruption over a period of time. This idea involves more intervention by the government who achieves its purpose by providing incentives and subsidies to their known business partners in specific operating fields. They favour this particular set of business owners who they keep close ties with over others, making it difficult to create competition which eventually leads to a monopoly. The government gets connected to the economy, by playing the role of the “investor” motivated to extract money from the unconnected many by means of deviancy and corruption. U.S. politician David Stockman defines Crony Capitalism as the aggressive and proactive use of political resources to gain something from the governmental process that wouldn’t otherwise be achievable in the market. My essay will focus on how Crony Capitalism has created an impact over people across the globe, through means of corruption by the government and businesses. While the government might benefit from investing money in businesses at the taxpayers’ expense, their

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