Question

Evaluate the impact/effects of fraud and corruption on the counrty

Answer 1

Corruption has a bad influence on the market, leads to an inefficient allocation of resources and highlights social inequality. The existence of corruption in a country affects the diversion of existing investors, as well as the failure of new ones. Because of this, unemployment rises, the state collects less taxes, the budget is smaller, and thus less money for public spending and procurement, as well as for government programs, employment, education, social programs. This also affects the business atmosphere and the market, because some companies come to the tender through corruption, other companies that do not do so, make less profits, so they dismiss workers and even leave the state and move their plants due to irregular market conditions.

Answer 2

The corruption severely affects the poor; it also damages programs and policies that aim to decrease the poverty. Corruption undermines the development of country by distorting the “rule of law” and weakening the “institutional foundation” upon which “economic growth” depends.

 

Further Explanation:

Corruption threatens ethical values, sustainable economic development, and justice. Corruption affects every person in the society. It endangers the ‘rule of law’ and destabilizes the society. It undermines the ‘institutions’ and ‘values’ of our democracy. Public resources and public policies are largely “beneficial” to poor people; it is poor people who suffer the negative and harmful effects of “corruption” more grievously.

To be “dependent” on the “government” for healthcare, security, welfare, and housing, makes the poor people vulnerable to “corruption” since it stalls “service delivery”. Poor building quality, delays in infrastructure and layers of “additional costs” are all the results or consequences of corruption

Learn More:

1. Though the outcomes of the Schenck and New York Times differed, what did these decisions have in common? The government has a heavy burden to prove harm. The government can limit speech that causes harm. The government has unlimited power to limit speech. The government must follow the first amendment.

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2. How did California differ from the united states in terms of interactions of whites and natives

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Answer Details:

Grade: High School

Chapter: Corruption

Subject: Social Studies

Keywords:

corruption, policies, development, poverty, law, economic growth, ethical values, security