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.