The Pros And Cons Of Corruption

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Corruption? Corruption is unethical conduct, a form of dishonesty and abuse of entrusted power for private gain. Corruption corrodes the fabric of society. It undermines people’s trust in political and economic systems, institutions and leaders. It can cost people and their freedom, health, money and sometimes their lives. The cause of corruption is a public authority and its abuse, and links corruption to the state, its activities, state intervention on the market and the existence of the public sector. It is grand, petty and political. Leslie Palmier (1983, p.207) describes corruption as the use of public office for private advantage. According to Friedrich (1966, pp.174-5) the use of public office for private advantage is not always widely perceived in a given society to be corrupt “Particularly if an individual making personal gain is simultaneously making a positive contribution to the society. There is no contradiction between private advantage and contributing to the general good. It is just a form of rent appropriation and its dissipation, i.e. a situation in which economic agents are willing to pay a bribe to be included in the rent appropriation scheme. Vito Tanzi stated that the “Corruption is the intentional non-compliance with the arm’s-length principle aimed at deriving some advantage for oneself or for related individuals from this behavior.” There are three basic elements of this definition. The first element deals with the arm’s-length principle as it
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