Due to this cancer, the gap between the rich and the poor is increasing day by day. Corruption is also causing the evacuation of merit from Pakistan. Corrupt people take advantage of the opportunities available and appoint their relatives or friends on the good posts bypassing the deserving people and leaving degree holders unemployed. In the latest corruption perception index Pakistan is ranked as 34th most corrupt country in the world. Pakistan has had a painful history of corrupt leadership for example Benazir Bhutto and Asif Ali Zardari in the past and Nawaz Sharif being the recent.
Barclays lost more money than they could have made by the fines they are currently paying for their role in the manipulation of the Libor rate. The company is being sued by other companies because of the money they’ve lost in the process of manipulation of the Libor rate. Who suffered from the manipulation? Consumers and municipalities suffered a great loss due to the manipulation of Libor rates by the banks that were involve in the scandals. Municipalities around the states suffered up to 400 million on the Libor manipulation scandals.
Corruption affects our lives, society and economy. The corruption has affects both major and minor effect on the economic, which have a serious impact on the individual community and country. First, corruption leads to the depletion of national wealth. It causes increased costs of goods and services, the funneling of scarce public resources to uneconomic high profile projects at the expense such as schools, hospitals and roads. Moreover, it causes inflation and imbalanced economic development in market structures which cause economic delay in growth.
This brought even more corruption within the government and the elites since the economic boom in the late 1970s benefitted only a tiny percentage of the population. This left the poor segments of the population completely neglected. After a severe financial crisis in 1982 and the conclusion of Mexico’s and the United States negotiation regarding the North American Free Trade Agreement in 1992, a group called the Zapatista Army of National Liberation started an armed uprising, whose goals were to protest what it regarded as government failure to deal with regional social and economic problems. In 1994, the Mexican economy went into a terrible recession. This led to an increase in poverty, crime, and, of course, corruption within the country.
Child labor is illegal in Bangladesh but government officials can be bribe that means exceptions are made. Child labor is a reality even in our community, people are poor and corrupt government officials can be paid bribes. Human trafficking, child mortality, poor education standards, environment destruction and terrorism are all fuelled by corruption in the government. Corruption is more than just losing public funds but it’s all about the cost of people’s lives. About sixty eight percent of the countries around the globe have a serious corruption problem.
The susceptibility of the poor to pay these bribes is twice as much as that of the rich, which is primarily because the poor feel powerless against the corrupt officials. "When coming into contact with the police, more than a quarter of people told us that they needed to bribe either to get assistance from the officer, or to avoid a problem like passing a checkpoint or avoid a fine or arrest, which is further evidence that graft is undermining the rule of law and allows people to get away unpunished for their crimes," says Pring. Thus, as a result of corruption, aside from the economic impacts, there are many criminal activities which go unnoticed, or rather unreported - increasing the security risks in the
In other words, where a tiny minority have all the money. The features of rich or developed countries for example, is the presence of a middle class, but, recently we have seen even the western countries are gradually losing their middle class, hence the increasing number of riot and clashes. In a society, poverty is a very harmful factor that can destabilize the entire country. Hence, there will be lack of intelligentsia and educated intellectuals to run the country and therefore poverty issue will remain (Poverties, 2011). Besides that, poverty can also cause high infant mortality and annual death rate, increase crime rate since people turn desperate to survive in the face of poverty and
When most of the poor people were exploited and harassed by the British officials, treating them as good as slaves. Addition to that, famines and diseases caused widespread destruction. This led to the birth of poverty at a large scale in India. And now India’s poverty has only increased. According to an Oxford study, one third of the world’s poor people live in India.
Salary increase as an effective method to combat petty corruption of government officials Corruption is an issue that get major concern on almost all governments. According to World Bank (1997), corruption is “the abuse of public office for private gain”. Many countries, especially developing ones, are struggling to reduce corruption in government bureaucrats. Corruption among government officials is widespread from top to bottom level. It do not only happen on top level, where corruption is in form of political maneuver and policy making for profit gain, but also arise in middle to low level civil servants.
Crimes: Causes and Punishment in the Philippines The Philippines government has long been unsuccessful at solving crimes; it is also one of the major problems in the society. Also, crimes have extremely affected the country’s economic growth (News Junkie, 2013). According to Sison (2014), crimes are committed due to extreme hunger and for purely economic reasons such as lack of education, unemployment and population growth because of this reasons, people are forcing to do crimes such as pickpockets and snatching. Crimes are committed in areas where the urban poor live. Additionally, the corruption of the politicians also added in blocking the social and economic development.