Underground Economy and Corruption
CORRUPTION
Prateek Gupta
BUSINESS ETHICS
Contents
ABSTRACT
This paper looks into the age-old debate of whether corruption is the only cause or there are some other causes, which have a huge impact on the economy as well as corporate. It has become a social issue. After looking briefly through its merits and demerits, forms and causes, we will see the consequences of corruption in the economy as a whole and businesses as well. It is very difficult to get an estimate of it as none of it appears officially on any documents or records. Relating it to black money, we try to find a link between corruption and black money and how this link could affect the economy and what may be the possible consequences, recommendations and ways to fight corruption is the objective of this project.
We have focused on corruption in India, as a case study to see how the link works along with a few steps that should be taken by the Government of India to curb this rising problem of black money and corruption. We have also spoken about some of the anti corruption laws and anti corruption organisations in India.
INTRODUCTION
Corruption is the wrong doing on part of an authority or powerful party through means that are illegitimate, immoral, or incompatible with ethical standards often from patronage and is associated with bribery. Bribery contributes to corruption.
There is a famous saying about corruption that “ If you cannot beat them, join them is the rule of the game “. Black money also leads to corruption. There are many definitions of corruption. The classic definition, which was particularly in vogue in the 1990s, is “the misuse of public power for private gain.” Jeremy Pope, the former head of Transparency International, has defined corruption as “the misuse of entrusted power for private benefit “. The biggest obstacle to combating corruption relates to difficulties in measuring it
Prateek Gupta
BUSINESS ETHICS
Contents
ABSTRACT
This paper looks into the age-old debate of whether corruption is the only cause or there are some other causes, which have a huge impact on the economy as well as corporate. It has become a social issue. After looking briefly through its merits and demerits, forms and causes, we will see the consequences of corruption in the economy as a whole and businesses as well. It is very difficult to get an estimate of it as none of it appears officially on any documents or records. Relating it to black money, we try to find a link between corruption and black money and how this link could affect the economy and what may be the possible consequences, recommendations and ways to fight corruption is the objective of this project.
We have focused on corruption in India, as a case study to see how the link works along with a few steps that should be taken by the Government of India to curb this rising problem of black money and corruption. We have also spoken about some of the anti corruption laws and anti corruption organisations in India.
INTRODUCTION
Corruption is the wrong doing on part of an authority or powerful party through means that are illegitimate, immoral, or incompatible with ethical standards often from patronage and is associated with bribery. Bribery contributes to corruption.
There is a famous saying about corruption that “ If you cannot beat them, join them is the rule of the game “. Black money also leads to corruption. There are many definitions of corruption. The classic definition, which was particularly in vogue in the 1990s, is “the misuse of public power for private gain.” Jeremy Pope, the former head of Transparency International, has defined corruption as “the misuse of entrusted power for private benefit “. The biggest obstacle to combating corruption relates to difficulties in measuring it