The Advantages And Disadvantages Of Corruption

Political corruption is a major problem in the US today. It involves almost all levels of government and affects people from all walks of life. Public office is a noble post and citizens put their trust in government officials to carry out their constitutional duties for the benefit of the citizenry. The problem comes in where both elected and unelected officials perform their duties with the goal of personal gain in full view of the law. The ethical and moral wrongs of corruption are unjustifiable in any context.

Speaking about corruption in the international realm was a taboo before the end of the cold war. But the end of the cold war has led to the consolidation of democracy, political stability, and respect for the rule of law, as well as effective development and expansion of open and competitive markets. In the recent years, especially from late 1980’s, the phenomenon of corruption has received a great deal of attention from the international community.

Someone who is abusing the power that is given to him or her defines corruption, however, the word in its self is more than a simple idea; it is an intricate network. Since people’s views about ethical and moral behavior affect the way corruption is examined, the word has a slightly different meaning to each person. Additionally, misconduct across various societies is viewed differently due to social and cultural borders. The criminal justice system has had many instances where corruption had affected the outcome of a case and has inserted itself into the legal process.

First, it is important to define what corruption is. The term, “corruption” covers a broad range of human actions,

growth. Corruption reduces the efficiencies of the operations of the market economy and a loss

The corruptin is the abusive and inefficient use of resources by trusted powers for private gain. Corruption is not committed to the rule of law, justice, human rights and the integrity of public service, and it hurts every one who's life, livelihood, or happiness depends on the integrity of people in a position of authority.Some times it's devastating impact is more visible . The governance ,transparency ,and fighting corruption is so important to sustaine economic growth.

Corruption is a lot more prevalent because lack of accountability and regulation in this country. If money that the government receives is going in their pockets rather than being spent on the people who need it, on their education, health and so on, then the consequences are obvious that many people don't pay taxes because they don't trust the government to spend it on the common people, they think they are corrupt and the money would just disappear and so this creates a vicious circle. People don't see the government doing anything to help them, so they think it's a waste of time to pay taxes. The government doesn't get any money from taxes and so can't do anything to help

The negative economic impacts of corruption have grown rapidly, and major international organizations have claimed that corruption hinders economic growth (world bank 2006). Although there are claims that corruption is harmful to economic growth, economists have not really agreed with the argument from a theoretical point of view. Theoretical studies suggest that corruption may counteract government failure and promote economic growth in the short run, given externally determined suboptimal bureaucratic rules and regulations. As government failure is itself a function of corruption, however, corruption should have

It would be convenient to start this research paper by stating that corruption is a challenge mainly for businesses in developing countries and that it is unrelated to the current affliction of the economy in the United States. It would also be convenient to claim corruption has declined in America as a result of awareness raising campaigns and the numerous anti-corruption laws. But none of those aforementioned statements would be true. Corruption is not the exception, but rather the rule in today’s business practices. In 2004, Daniel Kaufmann, a senior fellow at Brookings Institution and former director at the World Bank, calculated an index of "legally corrupt" manifestations which is defined as the extent of undue influence

The unlawful use of a person’s position while in power leads to multiple problems with today’s government. The corrupt methods politicians use are ideas that are strictly in place for personal gain. Present throughout history and still prevalent within today’s world, government corruption has consisted of a number of negative issues including bribery, economic and social impacts, and the misuse of power. Government’s role within daily life has been shown to have negative effects as seen in many aspects of life as well as in literature.

Ahmad N. (2002). Corruption and Government Regulations : An Empirical Analysis. The Bangladesh Development Studies , Vol. 28, No. 4 pp. 29-51.

Political corruption is parasitic; it finds a host, and can almost always find a way to survive. Eventually, people grow dependent on this corruption as a means for income, thus forming a symbiosis between the people who benefit from it, and the elites that regulate it. People sometimes ignore the corruption surrounding them, feeling that as long as the politicians do their jobs well, their ‘extra salary’ can’t hurt (BNS).

While corruption is said to generate inefficiency and retard growth in a country (Ackerman, 1997), China manages to deliver astronomical economic growth amidst rampant corruption (Li, Peng, 2001). To explain China’s puzzle, the essay first focuses on the causes of corruption and why it has yet to be eradicated, and then analyzes its economic impact in the short and long run.

Corruption is a complex political, social, and economic anomaly that negatively affects developing and developed countries. It weakens democratic institutions, holds economic development, widening the rich-poor gap and certainly leads to governmental instability. The World Bank definition of corruption states that “…the abuse of public office for private gain”.

In this essay, I will present an argument against theories that propose that corruption may be beneficial to economic growth by presenting theoretical and empirical evidence that suggest otherwise. I will also discuss policies that will prove effective in eliminating corruption in developing countries.