Attention Economy


Wednesday, January 27, 2016

Corruption in the Public Sector Hinders Economic Development

Interesting new report on perceptions of corruption in public sectors worldwide:
http://www.theguardian.com/global-development/2016/jan/27/index-perceived-corruption-billions-locked-in-poverty-by-public-sector
“More than 6 billion people live in countries where serious levels of public sector corruption are fueling inequality and exploitation and locking millions of men, women and children into poverty”

It is worth keeping in mind that the Corruption Perception Index is a flawed measure of actual corruption levels:
https://www.washingtonpost.com/news/monkey-cage/wp/2016/01/27/how-do-you-measure-corruption-transparency-international-does-its-best-and-thats-useful/

I would add the following critique to those noted in the above Washington Post column:
Lobbying is considered a perfectly legal practice in America - in the rest of the world such actions would be referred to as bribery/influence peddling.
http://www.latimes.com/opinion/op-ed/la-oe-dovi-officials-lobbyists-20150217-story.html
The revolving door policy for top officials/partners at the US Treasury-Federal Reserve Bank-Goldman Sachs complex barely raises any sort of conflict-of-interest concerns in America and is considered perfectly legal.
http://www.marketwatch.com/story/at-the-fed-kashkari-appointment-makes-vampire-squid-moniker-apt-2015-11-10