Corruption can be defined as the divergence or deviation from the normal. This involves going against the rules or the expected.
Types of corruption
There are two types of corruption namely; political corruption and economic corruption. Political corruption can be defined as the one that takes place within the government and it involves government sectors leading to the misuse of government power and resources for personal gain.
Economic corruption is defined as the one that takes place in the sectors that involve the economy like the business sectors. This may involve corruption so as to get contracts by companies or corruption so as to get top seats in market managements. Corruption may include giving bribes, frauds and extortion among others. Bribery involves payment of any form may it be money or a good, for a corruption action to take place? Frauds involve a kind of trick or distortion of information for a personal gain. For example, when an individual is put in charge of funds that are meant for the public, he can distort the information contained in the files that contain the exact funds amount so as to use the funds for his personal gain.
Unlike frauds which involve stealing of funds, embezzlement involves stealing of resources that are meant for the public. An official steals the resources he/she is supposed to administer on behalf of the public. Another form of corruption is extortion, also known as blackmailing. It involves use of force to acquire money from a person after giving a threat or promising to do something in return which may or may not be done. Favoritism is also a form of corruption where a person in power favors friends, family and the people who are close to him/her.
Whether corruption should be stopped in the four perspectives of political economy and their reasons
Causes of Corruption
The main cause of corruption is the availability of more power or authority but with lesser accountability for the power. This means that people are usually in charge of the opportunities for corruption thus it is very difficult to find them guilty (Faulks, 1999). Also low salaries and improper governance may tempt individuals to be involved in corruption activities.
Ignorance and illiteracy of the people may also lead to corruption in that, if the government releases funds to benefit the public and gives an individual the funds to manage and the public is not aware of the funds or they do not follow up due to ignorance, chances are high that the funds will be misused by the individual who is assigned to manage them.
Effects of corruption
Corruption has had over the ages, many effects on the economy, politics and even individuals. It has led to slower growth of many economies and even death of many others. Politics has also been severely affected by corruption in that, for a political leader to get into power, he/she has to use corruption measures to persuade the people to vote for them. (Faulks, 1999) This leads to poor governance since many who get power through this method do not perform.
Corruption also poses a challenge in development of an economy. It increases the costs of running businesses due to increased illegal payments that come as a result of corruption. Like the case of corruption in elections, there is very little accountability in implementing the desired activities that a political leader is supposed to fulfill.
Many people term corruption as illegal and indeed it is illegal since no development can take place under corruption. Victims who are usually charged with corruption scandals face lethal arm of the government although corruption nowadays is seen to be an inside job that is, it takes place inside the government that is supposed to fight and prevent it. Due to the reasons, corruption, under the four perspectives should be stopped using the following proposed methods.
Ways of Fighting Corruption
Curbing corruption can be achieved through various means. Among the measures to take, strengthening the government arm with the responsibility of public funds accountability is the major move. This move ensures that all individuals participating in corrupt deals are arrested and charged. Another approach to fighting corruption is the reduction of responsibilities the government bears in managing public funds and general economic affairs. This will blocks the top government officials from any direct contact with any public funds and therefore cannot misappropriate them. Finally, a reshuffle of employees from the public commission should be carried out more often so as to improve incentives.
Objectives of the essay
Classical liberalism is a philosophy that lack regulation and law enforcement. In the state of a market environment, it poses a very dangerous effect on the economy. Classical liberalism is usually associated with greed and selfishness from the people. These two traits threaten the concern for other people and even using them to for their own personal gain. In other words, classical liberalism is the belief in freedom. This means that the community is free to do whatever they like and no one can question them.
With classical liberalism, the market is usually very competitive and open to the public. This acts as a means of the efficient firms to win the market competition. Thus corruption has no room in this perspective since every market activity is done in the light. The only type of corruption that exists in classical liberalism is bribes which are usually given by the firms to the people in power so that they can win in the competitive market. For example, a firm can bribe the government so that it can improve the infrastructure near it so that the transportation of its products can be easier and that it can win the market competition.
Causes of corruption in Classical liberalism
The competitive market and the need for profit making are the two main contributing factors for corruption in classical liberalism. This competitiveness is followed by greed and envy that leads to unfairness to others especially the poor and the illiterte. This is against the rule of the law that states that all people in the society are equal are should be treated in the same manner.
Fighting corruption in Classical liberalism
Since the government is involved in the corruption in Classical liberalism, the common citizen is left with little to do so as to fight corruption.(Ruggiero, 1959) This leaves the government with the responsibility to protect its own people from the greed and the selfish in the economy. This is done through law enforcement so as to protect every member of the society from any form of injustice and administering equality.
As stated earlier, giving bribes is the major form of corruption in this perspective. Therefore the government should ensure that it forms administrations to fight corruption by arresting those people that are caught bribing the people in power for favors. The government should also ensure that there are equal market access rights for everyone; that is free market access, so that every member of the society is not oppressed but enjoys equal rights.
Radicalism is a philosophy that is very principled as compared to classical liberalism. It mainly focuses on the people’s interests rather than personal interests. (Edward, 1992) Unlike liberalism where the powerful use their power for their own benefit, radicalism recognizes everyone as equal and should enjoy equal rights as others do. The interests and rights of the public are keenly adhered to and those who violate them are despised.
Radicalism brings about equity of all people since it believes that unequal possession of properties will destroy the naturally peaceful and cooperative nature of human beings and the self-interested are immoral and they damage the society. (Gilbert, 1971) Radicalism ensures fair distribution of funds and resources to the people. This makes radicalism is a very good form or governance.
Causes of corruption in Radicalism
Under all these believes and morals, corruption still exists under radicalism. Since equality is the rule of the day, individuals do not focus on their personal interests rather they focus on the general interests. This makes them to lose their identities and they feel that they are similar to everyone else, though they are distinct. This makes the society a difficult place to maintain since motivating these individuals becomes a problem. As a result many people, who aspire to improve themselves, will oppose radicalism since it tends to lower them. These people will try to get capital from the government in an inappropriate way. This is corruption.
Fighting corruption in Radicalism
The equality in radicalism is also followed by some corruption in it. Corruption leads to increased criminal rate, high costs of administration and a violent society. Those that practice corruption under radicalism get more money more opportunities, more information and more power than the others. This is equally unfair and it does not lead to the growth of the economy. This gives the main reason why corruption should be terminated under radicalism.
Conservative philosophy is mainly focused on protecting its people against the treats brought about by capitalism, individualism and democracy. Since many people are driven by passion and the desire to improve in life, they tend to try and adopt new things in life. Introduction to new these new things may lead to change of the people’s way of governance. (Mike, 2001) From its title which comes from the word conserve, conservatism mainly focuses on conserving the already existing ways of governance like hierarchical leadership where there is a certain chain to be followed in leadership. Conservatism also ensures conservation of human rights, religious practices and the way of governance. It also strongly supported nationalism and patriotism.
Causes of corruption in Conservative
The drive by passion to achieve more in life may lead to people bribing others so that they can help them achieve their objectives. This kind of corruption mainly occurs in the market sectors rather than within the government.
Fighting corruption in Conservatism
Under conservatism, corruption is termed as immoral and it promotes inequality in the society. It is therefore the duties of the leaders to fight corruption by ensuring that proper morals are followed in the society. The society should also be educated on the need to be conservative since they do not lose their cultural believes and conservatism is a sign of loyalty to the country.
Modern liberalism is not very much different from classical liberalism because it also beliefs in liberty and equality. Under liberalism, every member of the society is equal with equal human rights. Liberalism also supported the right to worship also known as the freedom of worship. (Richardson, 2001) Modern liberalism, unlike classical liberalism gained support from the government, institutions and personnel’s that supported equality. In other words liberalism can be said to be new, considerate, focused, proud and determined philosophy.
Causes of corruption in modern liberalism and how to fight it
Due to the free market and the equality of the people, corruption will find its way into modern liberalism. Therefore, as much as the government supports the free market, it should also formulate some commissions to fight corruption so as to protect its own people. These commissions should ensure that the corrupt people are arraigned in court.
Example; due to the growing economy of China, Hong Kong has grown as a capitalist city. This growth has led to high competition in the markets. This has led to corruption in terms of giving ‘tea money’ which was believed as a custom rather than bribery.
Consequences of corruption under modern liberalism- Hong Kong situation
Hinder market efficiency
Modern liberralism calls for outsourcing of crucial jobs and contracts by the government. In order to get these contracts, companies may bribe the sectors responsible for giving them. This leads to hindrance of market efficiency since short piling is the end result. An example is the short piling of the Tin Chung courts in 2006. This poses a safety problem of buildings and a reduced confidentiality in property developers. Therefore the value of goods and services in the market cannot be fully maximized.
Affect social justice
Due to the corruption in modern liberalism, unequal opportunities will be witnessed. Taking the example of Hong Kong, K.D Chan an engineer in the housing department, was being bribed by a tenderer for a successful bidding without competition from others which he accepted. This violates fair competitive nature of an economy.
Exploiting public interests
Due to the high concentration on self interests rather than public interests, people will abuse the public interests for their own interests. For example, a certain company in Hong Kong disclosed a fake financial report to the public where else it had incurred a loss. This can lead to the loss of confidentiality by foreign investors towards a country.
Oppose Laissez-faire market
The economy of Hong Kong is regarded as a Laissez-faire market economy which has least intervention and regulation from the government. Due to corruption, proper regulations in the market are required so as to fight corruption. This is against the Laissez-faire market rule.
How corruption should be dealt with
Corruption harms both the economic and the political fields in a government that’s why there is political and economic corruption. The government itself should formulate ways of fighting corruption because it harms its own people. This can be ensured by focusing mainly on the interests of the public rather than personal gain by the top officials. (Faulks, 1999) The people are the determining factor here because they are the ones that elect these leaders who later steal from them. Proper education on the choice of leaders should be taught to the public. This will help fight corruption.
The other way of fighting corruption is by forming monitoring committees which will make sure that public funds are well managed and accounted for. The people found guilty of misusing these funds by the committees should be punished by the government laws. The committee should also make sure that corruption in the markets is cut-off since it affects the economy so much. The effects of corruption in markets can be dumping, which is very harmful to an economy.
Political economy can be defined as the interaction between politics and economy. Politics, in this situation involves government, law, power and authority while economy involves production, selling and buying of goods and services. (Adams, 2001) This study explains how power and authority affects or influences the production, selling and buying of goods and services.
There are two types of political economies namely; positive and negative political economies. Positive economy involves constructive influence of the government to the economy. This may involve proper running of the government sectors that manage the economy so as to ensure transparency and justice in implementing economic strategies. (Maurice, 1893) One of the ways of ensuring this is by fighting corruption in the government. Politicians, using their power and positions in the government can form anti-corruption commissions that will ensure transparency in the government so as to facilitate positive growth of the economy.
Negative political economies involve destructive influence of the government to the economy. In this situation, those in the top positions in the government use their power to misuse funds meant for the public for their own personal gains. They can also receive bribes from people who need favors from them. An example is construction companies who might need a tender to construct roads and other facilities can give a bribe to the person in charge of public works so that they can get the tender instead of another company. This is corruption and it leads to minimal or no growth of the economy.
Analysis and evaluation
Corruption is highly facilitated by greed. The desire to get more than others is a contributing factor to corruption. The other cause is ignorance from the people which gives those in power a chance to steal. Poverty and desperation is also another contributing factor of corruption. A person will give whatever little he has so as to get a favor in return.
Corruption should be stopped due to very many reasons. One of the reasons is that corruption is harmful to human life. Take a situation whereby a person constructs rental apartments with a weak foundation and the people suppose to ensure that buildings are supposed to be put up on strong foundations allow him simply because he gave them a bribe. This is endangering peoples life’s since the building might come down some day.
Corruption also hinders market efficiency leading to poor growth of the economy since many developing nations rely on markets for the growth of the economy. (Slomp, 2000) Corruption also does not exercise equality since the poor usually have no say since they have no money to bribe others for favors. The poor are also prone to be corrupted, like in the situation of a politician who wants a seat in the government; he/she can give little money to the poor so that they can elect him. These people accept the money since they are poor and they need to survive.
Corruption poses a great risk to development and overall growth of an economy due to its ability to drag a county’s economy. A great deal of wealth intended for the public is lost through corrupt and illegal deals. Crimes and injustice also prevail through corruption since a person can give a bribe so that something he was accused of is withdrawn. Corruption may also be a threat to human life. For example, a car owner can give a policeman a bribe so that his car cannot go for inspection. This is too dangerous since the car can cause an accident and cost lives.