The majority of the time power does lead to corruption. Throughout the world there are a lot of countries plagued by corruption. These countries can’t control it because it is the government that is corrupted, and making the whole country corrupt. “Professor Fisman argues that the most accurate way to describe corruption is as an ‘equilibrium’--the result of people acting rationally within a flawed system” (Taub).In Hamlet, there are constant clues about the corruption of the state of Denmark such as “This majestical roof fretted with golden fire” (II.ii. 303).
While it is reasonable to infer that this inequality gap has widened due to globalization or technological changes making the American population less competitive, we’re missing the real issue that with this gap being so wide as it currently is, there is not positive change being made. To add on, economic inequality can typically affect political choice making due to stances in life. In article “Inequalities of Income and Inequalities of Longevity”, by Eric Neumayer, he specifies that “poor people are less likely to vote and have little influence on political decisions, whereas the very rich can exercise a strong influence via lobbying and donations.” This highly creates political incentives that would benefit the rich rather than the poor in making society a convenience for the rich at the expense of the poor. For example, Neumayer list that low income families or individuals have multiple consequences with health due to the reason that they can’t afford the best hospitality a wealthy person would be able to afford. Therefore, America has huge amounts of inequality in opportunity and we may be convinced that any individual can be successful through determination but facts are saying otherwise.
Corruption is a complex social, political and economic phenomenon that affects all countries. In Colin Nye’s classical and most widely used definition, corruption is a “behaviour which deviates from the formal duties of a public role because of private regarding (personal, close family, private clique) pecuniary or status gains” (Nye 1967). In short, corruption is the misuse of public power for private gain. Currently the most common types of corruption are bribery, nepotism, fraud and embezzlement. It is necessary to make a distinction between administrative and political corruption.
How Corrupt Governments Affect Their Citizens The fundamental purpose of the establishment of democracy was to create a fair and just ruling for all citizens. However, in many nations around the world, corruption has seeped through and infiltrated the workings of the government. Countries such as, North Korea, Sudan, and Somalia are filled illegal acts that facilitate lawless societies, restrict their economic growth, and create strife among citizens. North Korean citizens live under totalitarian control with restricted freedom and lack of expression. While in Sudan and Somalia, a lack of unbiased guidelines gives corrupt individuals the freedom to misuse their power.
• Lower Government Acquisitions: Economic growth makes higher assessment incomes and there is less need to use funds on profits. For example, unemployment benefits. Subsequently, it serves to diminish obtaining. Likewise, it assumes a part in decreasing obligation to GDP degrees. DISADVANTAGES Long term financial development puts an awful effect on the inhabitants of any nation.
The differences between the classes are becoming larger, and conflicts all the sharper. Capitalism is destroying the middle class and affecting the concentration of wealth and capital in the hands of the richest. Many living spaces were permanently destroyed or polluted to the extent that they endanger human lives. In a continuous race for profit environmental disasters have become a normal thing, to whose occurrence people have become alarmingly indifferent. Figure 1, European unemployment rate Neo-liberal capitalism is not only unfair in the social aspect.
Political problems involving the United States’s government also became a big cause of the Great Depression. Government isolationism and a laissez faire government were two big political causes. However, the government also greatly hurt everyone(consumers and businesses) by increasing taxes which hurt the consumers. This caused decreased spending(along with other causes) which hurt businesses. Lastly, the government made tariffs even higher amidst everything else that was already going on!
The problem with the widened wealth gap is that the inequality may harm the quality. Meaning that those in the higher classes see it as you can use the money with no restrictions. However, economist believe that the “relationship between inequality and economic freedom, with the possibility that policies that are meant to reduce inequality will reduce economic freedom, which will then only make inequality worse.”
It brings little effect to the economic growth as compare to the total spending of whole population. Even income inequality brings benefits to the economy but the negative effect of income inequality in much more compare to its benefit. As an example, income inequality will bring negative effect like discourages the investment and hence affect to the GDP of a country. As higher income inequality, the lower the GDP. Income inequality might cause
Corruption will create social class and it is unfair to all the citizens. It also widens the gap between wealthy and poor and it cause further problem. For example, the corrupted people can enjoy a better life but other is still get trouble on how to live a good life. The most dangerous effect of corruption is when judiciary is corrupted. Development, justice and civil society are based on law and justice, but in developing countries corrupted people uses law to justify their illegal behaviors.