Political and Business Elite Corruption

Political and Business Elite Corruption |

A Brief |

Kristen Foster |

Table of Contents

Executive Summary 3

Introduction 4

Background Information 6

Analysis 10

Multinational Corporations 11

Exploitation of Income Inequalities 14

High Revenue Industries 17

Recommendation 21

Conclusion 22

Bibliography 23

Executive Summary

This brief is addressed towards the Canadian government in an attempt to bring rise to the importance of reducing worldwide corruption in politics and in business. Furthermore, it will imply that Canada has an obligation to do its share in reducing such injustices. Canada is a strong promoter of economic liberalization which has led to many positive outcomes. However, certain aspects of this trend have actually encouraged corruption. This brief will outline the flaws of economic liberalization which have done so. Additionally, it will contrast these with the associated economic benefits in order to explain why these problems are not so simple to solve, and quite persistent. It will conclude with a concrete recommendation to the Canadian government on how to discourage corruption and prevent its consequences on an international level.

Introduction

In many developing countries today, corruption has become a part of everyday life to the extent that it is, in some cases, believed to be the only way to do business and politics. The current trend towards economic liberalisation has pressured developing countries to embrace large multinational corporations (MNCs), free trade and economic growth. However, these effects can also be seen as harmful in that they have led to MNCs monopolizing small towns, uneven distribution of wealth and the exploitation of high revenue industries. This paper will argue that economic liberalisation, without enforced political and business regulations, has increased corruption within developing countries. Our arguments will be enhanced by examples from three developing countries: Mexico,...