There is no justifiable explanation for corruption from the least to the greatest amount and in any capacity. Once corruption is entrenched in the society, it becomes very hard to eliminate sort of like a trap and you are hooked. There are many countries that have been trapped by corruption with no clear end in sight. Corruption is so rampant and well-established that receipts are issued for bribes with no guilt. The enormous impact of corruption is felt especially by the ones who don’t have enough money for their daily needs.
The most dreaded impact of corruption is the loss of investors to a country. If a country is blacklisted for being corrupt, the number of investors drastically reduces and the ones who invest must be willing to part with a sum of money that the authorities will appreciate. If for instance, an investor pays for licenses officially and unofficially by corruption, then he will be offended by the way business is done contrary to their strict formal norm. this will keep him from wanting to invest again in that country.
It is the poor who suffer the consequences of their corrupt leaders. If an investor bribes his way into a market, then he will increase the cost of goods and services to recoup the money he lost to corruption. Leaders who get good salaries are the ones who benefit from corruption funds and don’t share their earnings with the poor.
Another huge impact of corruption is the increase in cost of gods and services. If imported goods are paid for in terms of import duty and taxes then bribery is used to get the car from the port, its value will have increased by the amount paid as a bribe. Some public service vehicles are forced to pay bribes so as to avoid being impounded by the police. It is the passengers who pay for this and an increase of traveling fare is eminent. In some places, receipts are issued in broad daylight without fear. Corruption is so rampant that the government does not dare to fight it because the leaders benefit from it in terms of campaign money, expensive cars and lavish houses; the poor don’t get a piece of the cake.
People who are against corrupt practices find themselves at crossroads of being corrupt or losing the benefit of enjoying services that he deserves without bribery.
Corruption is done by everyone from the leaders right down to the average person on the street. This makes it hard for investigators as nearly everyone engages in corrupt practices. It is then the duty of each and every one of us to eliminate corruption. Some people are misguided and think that it is better for the rich to engage in corruption with foreign investors since they will leave without developing the area which is wrong because if an investor sets up his lucrative business, then he will pay more taxes than ever before.
Now that you know of the impact of corruption, then you can suggest the best method of punishing the perpetrators. Well, there is the extreme punishment of hanging that is done in communist countries which is ungodly, the other extreme is doing nothing like some countries and the in between that is bone by democratic countries where judges give out jail sentences like for the Enron case.
Some countries are showing a tremendous effort in the fight against graft. It is unfortunate that the international community does not acknowledge this and give them a pat on their back. Encouragement is lacking and the only thing that is done is criticism. This is underproductive as credit aught to be given where it is deserved. The European Union and America just can’t dig deep into their hearts and acknowledge the effort being done to stop corruption. They have a misconception that corruption is non existent in their nations. In fact, there is high tech corruption in these countries like the Enron scandal which they can’t call the Enron corruption case.
Remember that corruption is a vice that deeply affects everyone. It affects you in one way or another. It is therefore everyone responsibility to stop this vice. Play your part and I play my part. Together we can win the war against corruption
