Corruption Hampers economic growth discourage the poor

Corruption as we know is the most widely regarded social evil and is the biggest challenge of 21st century. It can effect generations and if not stopped, it can bring a first world country to as low as 4th class country. It’s a complex social and political as well as economic phenomenon which not only affectedPakistan but also affected almost all the counties in the world. The most common perception about corruption is that, corruption brings instability in politics, Hampers economic growth discourage the poor and also foreign investors. Corruption attacks the foundation of democratic institutions by distorting electoral processes, perverting the rule of law and creating bureaucratic quagmire whose only reason For existingis the soliciting of bribes(2012,UNDOC). Corruption indeed has massive effects on the society and on the whole nation. it is one of the major obstacle to development and is the cause of under development and absence of economic growth.  It prevents legal and economic as well as political system to work properly as they are supposed to.  Corruption is also a very big hurdle in the way of human development as it leads to misallocation of talent. This is very dangerous, because this can turn the people of a nation against their nation.In recent years, corruption got more light and coverage as of the past. Because media and other research highlighted this issue so much that people are now aware of corruption.  In the recent case of leaked Panama papers. This exposed many leaders and big names from all over the world as they were involved in money laundering and were owners of many illegal off shore companies. The prime minister of Pakistan was been disqualified by the supreme court in as he had allegations of corruption which were proved and supreme court gave its verdict against Nawaz Sharif . He has to step down from his seat. So is the case of Jahangir khan Tareen. Recently the well-known business man from kpk and MPA of PTI was disqualified in the allegations of corruption.  Pakistani Media has given all attention to the issue of corruption and exposed all the corrupt Mafia of the nation.  According to a survey between $1 trillion to $1.6 trillion are lost globally due to illegal activites.Word bank in 2001 estimated that, corruption lowers the standard of living in a country and decrees the wealth of a country.Most economist view. Corruption as a major threat to economic growth.  It has been observed as a main cause of low income and is playing a critical role in generating the poverty traps.  There is2 schools of thoughts “the sanders” and “the greasers” in economics about the impact of corruption on growth.  The Sanders believe that corruption is a major obstacle in the way of economies growth and is a cause of under development and absence of growth.  According to The greasers corruption fosters growth by allowing agents to control government failure. This Report seeks to establish a relation between corruption and its effects on economic growth and also throws light on how corruption can be reduced through communication.  The Report tells how corruption is lowing down the standard of life of a nation and how human development gets affected by corruption.  The report analysis the situation of corruption in Pakistan and the role of Pakistani media in it. Corruption and its effects in our society.

x

Hi!
I'm James!

Would you like to get a custom essay? How about receiving a customized one?

Check it out