Corruption in Global Economies”

In: Philosophy and Psychology

Submitted By zwannah
Words 2536
Pages 11
Final Paper
“Corruption In global Economies”

Submitted to:

Dr. Bernard Walker

PHI421: Applying Ethics to Organization

March 11, 2009

Submitted by:

Paleh Boye-Weah

ID Number: 721260

Cohort: BHE-07

Corruption, according to Rose-Ackerman is a “symptom that something has gone wrong in the management of the state” (Rose-Ackerman, 1999, pg. 9) Corruption rains from top government officials to civil servants and citizens. It causes high level of poverty, as wealth is not equally distributed amongst the people of the nation. Corruption due to exploitation of a country’s natural resources or human labor causes limits on investment and others to suffer as a result of poor circulation of public wealth, and these unethical practices leads to a hurting economy. “The number and variety of countries suffering corruptions scandals in recent years underscore the fact that corruption differs widely in its forms, pervasiveness and consequences”. (Elliott, 1996, Pg.1) Corruption in third world countries reduces economic growth, slows down economic development, and there may also be less severity in developed countries as many may not feel the glitch of corrupt officials or any effect as to whether it is actually occurring. It also benefits the few at the expense of the many; it delays and distorts economic development, preempts basic rights and due process, and diverts services, international aid and the whole economic. (Johnston, 2005, pg. 1)

Corruption on the other hand is a complex issue that existed long ago and one that cannot be resolved easily especially in third world countries where it is used as a means of survival for so many. Most often public official’s benefits from corruption and as such private entity are willing to pay the excess cost to get faster and efficient services. However the public official receiving the benefit sees…...

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