corruption

Topics: Economics, Economic growth, Decision making Pages: 3 (979 words) Published: October 20, 2014
Corruption in any form is treated as an incurable disease, a cause of many social and economical evils in the society and it damages the moral and ethical fibres of the civilization. Indisputably, it is correct that corruption breeds many evils in the society and once corruption starts taking place, slowly and gradually whole country passes through its net and it becomes after sometime an incurable disease. From the point of view of economic growth, there seems to be no clear cut correlation between corruption and the economic growth of a country. There may be presence of some social maladies like inequality of income among the people, moral degradation of people due to the prevalence of corruption, but the parameters of economic growth which are taken on percentage or an average basis are entirely different.

we can find several countries having corrupt regime but yielding excellent economic results and other countries with clean regime showing very poor results in terms of economic prosperity and growth.

Transparency International publishes every year lists ranking corruption in various countries. It has just come up with a list of the 10 most corrupt rulers. The list is not given . It can be viewed on the internet. It is against the policy of this site.

This list is neither complete nor exhaustive. Saddam Hussein and his cronies might have skimmed more than some of the above rulers.

Corruption in long run may destroy the whole society morally, ethically and economically. May be in the long run, a country needs clean government to reach the top of the income ladder, may be rapid income growth by itself induces better accountability and governance, may be corruption in long run degenerates the society into several misfortunes and evils. But one fact still stands out: Clean government is not a necessary condition for rapid economic growth.

Bangladesh stands at the last of list of 133, yet it has been growing at five percent annually for a decade....
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