The Price of Corruption

The Price of Corruption

The cost of corruption is such that it affects many different aspects of a culture, from the political arena, to the economic status, to the social ramifications, as well as the environment.  One of the greatest obstacles to the concept and the practice of democracy is corruption in any form.  Anti-corruption and anti-money laundering agencies have witnessed the effects that the consequences have on society first hand.  When members of political parties are found to be participating in corrupt activities, the entire system of democracy is threatened with illegitimacy.

In those societies wherein democracy is a new emergence this is particular harmful, as in a climate that is corrupt, the newly formed government has not had a chance to prove themselves and their leadership is immediately called into question.  When the government of a country or a region is called into such question, other reputable countries will be apprehensive in committing to association with that country, taking political and economic resources and transactions elsewhere.

This can seriously damage the economy of that nation.   This is felt in a variety of ways, including the cuts in financial funding as such projects as the construction of power plants and dams, oil refineries and pipelines.  As well as the projects of the infrastructure such as roads, hospitals and schools or the power and water supply of rural areas of the country.  Investments are deterred and the competition on the world market becomes distorted.  The most damaging effect however is what political corruption does to the very heart of the society.

People lose trust in those who are in the office of protecting their interests, their livelihood and their country.  The very fabric is ripped apart as apathy and frustration take hold of those who have become disillusioned.  This results in an overall weakening of the society.  Politicians may further the destruction, by in turn committing further acts of corruption and bribery in order to entice others to continue to have relations or business transactions with them.  It is a cycle that once begun, is difficult to end.

Related posts:

  1. Anti-Bribery Provisions of the FCPA
  2. FCPA and the International Code of Conduct
  3. The U.S. Patriot Act, and the Acts That Have Followed
  4. Uganda: Corruption, Bureaucracy Fuelling Criminal Stamp Making Business
  5. Art fair gives glitterati what they want – at a price

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