The cost of corruption | KPMG’s survey of leading companies in India

According a World Economic Forum blog post, titled ‘Has globalization made corruption worse?’:

Leaders today, regardless of whether they work in the public or private sector, face no shortage of challenges. We are told often, and with great certainty, that the consequences for ignoring any one challenge are dire.

Among the issues to deal with are wobbling economies, growing terrorism, spreading pandemics, a warming planet and online attacks against confidential information.

We can’t possibly devote equal attention to all of these, but we can figure out how they are connected. Understanding how and why problems are related helps us devise solutions that will have the greatest impact.

One place to start is to take a closer look at corruption. The damage it wreaks on our economy and institutions is well documented. It distorts markets by removing any notion of a level playing field, it undermines the rule of law, and it allows crony capitalists and the otherwise undeserving to hoard economic and political power.

You can continue to read this WEF post here.

See also:

South Asia world’s most corrupt region: TI

China’s biggest political takedown in 30 years on ex-security chief

Messed-up Pakistan Series – No 1 crime: Claims

Small change, big impact: Modi’s reforms

President Jokowi’s 9 priorities for Indonesia

Power DOES corrupt even the honest: study

  • Rehmat Ullah Kundi

    Corruption in Pakistan as it exits in present form has become a way of life. Till 1970s, corruption in government departments was very minimal. Poor and illiterate people mostly have one option: Hard labour. These poor people would envy the government employees for their better life style. The only way to get better was through education as there were no short cuts to get out of the hardships. Z.A. Bhutto made it easy for the illiterate working to enjoy perks of good life without going through hardships. Nationalizing Industries and handing over control to incompetent and irrelevant people base on political affiliations transferred the seeds of corruption to lower level. Since then the corruption is no longer a government phenomenon but has spread to all segments of society.