Explain Corruption In Bureaucracy, Commerce And Economics.


2 Answers

Anonymous Profile
Anonymous answered
Advantage and disadvantage of bureaucracy
Stuti Ahuja Profile
Stuti Ahuja answered
Corruption means the evil of public life especially the corruptibility of heads and staff of state, members of the government and social organizations. Corruption in bureaucracy is a form of perpetrating behavior which is not subject to criminal law and indeed, it cannot be the responsibility of the criminal law. The main causes of corruption are a special ethical approach and the lack of sense of vocation and weak control. We can say that corruption is the result of regulation and bureaucracy plus a bad pay for public officials.

Corruption in commerce, also known as corporate corruption, threatens the democracy and endangers advancement of entrepreneurship, which is one of the fundamental traits of economic life in the whole of the world. There should be zero tolerance for unethical business behavior. Corruption in commerce can be dishonoring contracts, not treating customers fairly, not being truthful about the condition of a commodity, not being transparent to investors.

From an economic point of view, corruption reduces economic growth by lowering incentives to invest for both domestic and feign entrepreneurs as they are asked for bribes before the enterprise can be started. Sometimes, corrupt officials later request shares in the proceeds of their investments. In economics, corruption acts as a tax as it decreases tax revenue causing people to engage in rent-seeking. Corruption reduces growth by lowering the quality of public infrastructure and services.

Answer Question