The cost of corruption

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Corruption. It's the word we are surrounded by everywhere. According to Wikipedia, "Corruption is a form of dishonesty or a criminal offense which is undertaken by a person or an organization which is entrusted in a position of authority, in order to acquire illicit benefits or abuse power for one's personal gain.".

image credit: World Rainforest Movement(wrm.org.uy)

Since the beginning , corruption has always been in every sector which is affecting the development of the entire world. Out of 195 countries in the world, corruption has eaten many of the country. Corruption in some countries are in so worse condition that now it is almost impossible or have much less chances of . Corruption maybe beneficial for an individual but on the wide prospective of development, it costs so much more than just money.

The cost of corruption comes with more than just the low development of a country. For eg. When the corruption occurs in the terms of government positions, the less deserving people are easily taken into the positions which demotivates and discourages the potential of a capable individual. Many unworthy people who are not capable of managing and working in that position always get chance through either bribery or through personal relationships with the people inside the job. 

When people work so hard in order to join a government job and make some income for their family, corruption always acts like an obstacle which is impossible to tackle. This causes the individual to either leave the country or to give up on his/her dreams. 

Also, due to the decisions based on bribery and personal interests corruption can cause the loss of public funds raised(taxes) in order to develop the country, this seriously impacts the financial planning of government which causes the improper allocation of the resources and overall the low development of a country

When the government that is included in corruption fails to provide the required services to the citizen, they lose faith in their government which leads to giving up hope on their government. Similarly, when the money that foreign investors have invested for the development of our country is used in corruption and there is no fruitful outcome of that investment, many international investor may also step behind from investing in country because they have doubt in the uncertainty of the government.

Likewise, corruption impacts the global reputations of the country by revealing all the scams and inequality which makes it difficult for a country to make its name in the international community. This can seriously impact the reputation of a country for a long term.

Corruption also causes reduced foreign aid, trade restriction which directly impacts the economic status of a country making it congested for a country to develop its way through the competition.

These above examples of the cost of corruption are enough to explain how corruption can cost so much more in the broad prospective. The cost of corruption has such broad aspects which are far more than explanatory. So it is much much better to work honestly than to strangle in the problem of corruption.

Some of the efforts which can be done in order to reduce the corruption in a country can include transparency, responsibility and implementing anti corruption laws. Only making these laws are not enough to remove corruption from the country, it should be applied and checked strictly to have a peaceful, equally good development of a country.