Aleksander Zotin the Russian writer claims there is a difference between “good” corruption and “bad” corruption in an article published on Worldcrunch titled ‘Is There Such A Thing As Good Corruption?’ Zotin states “First of all, the size. A 3% drain on the economy is not the same as a 25% one. But size is far from the only thing that matters. The structure is also important. Good corruption is often a way to grease the wheels of cumbersome regulations, where officials speed up the decision-making process, helping business. Often that means forced political support for regimes that are undertaking painful economic modernization. One of the important signs of “good” corruption is that the money stays in the country, allowing for economic growth. The American political scientist John Nye even calls this the "Switzerland factor." The less that corrupt money leaves the country (often going to Swiss bank accounts), and the more it is reinvested in the home country’s economy, the less damaging the corruption. The aim of good corruption is to create a good investment climate and improve growth in private business. One of the best examples of this good corruption was 20th century South Korea under dictator Park Chung-hee. He often forced large companies to take care of his party’s needs, and rewarded those companies’ loyalty with low-interest loans and business preferences. He used the money to secure his party’s hold on power rather than just for his own personal gain, and nearly all of the money stayed in the country. At the same time, he cracked down on middle-level corruption – investigating large numbers of mid-level officials and thus creating a good investment climate that forced the government to color inside the lines. Although he ruled as a dictator, Park held his government to strict standards, and didn’t use the corruption strictly for personal enrichment.”  Inspired by Aleksander Zotin, Worldcrunch ow.ly/iqQM6 Image source VK ow.ly/iqRmu Such a thing as good corruption (March 22 2013)

 

Aleksander Zotin the Russian writer claims there is a difference between “good” corruption and “bad” corruption in an article published on Worldcrunch titled ‘Is There Such A Thing As Good Corruption?’ Zotin states “First of all, the size. A 3% drain on the economy is not the same as a 25% one. But size is far from the only thing that matters. The structure is also important. Good corruption is often a way to grease the wheels of cumbersome regulations, where officials speed up the decision-making process, helping business. Often that means forced political support for regimes that are undertaking painful economic modernization. One of the important signs of “good” corruption is that the money stays in the country, allowing for economic growth. The American political scientist John Nye even calls this the “Switzerland factor.” The less that corrupt money leaves the country (often going to Swiss bank accounts), and the more it is reinvested in the home country’s economy, the less damaging the corruption. The aim of good corruption is to create a good investment climate and improve growth in private business. One of the best examples of this good corruption was 20th century South Korea under dictator Park Chung-hee. He often forced large companies to take care of his party’s needs, and rewarded those companies’ loyalty with low-interest loans and business preferences. He used the money to secure his party’s hold on power rather than just for his own personal gain, and nearly all of the money stayed in the country. At the same time, he cracked down on middle-level corruption – investigating large numbers of mid-level officials and thus creating a good investment climate that forced the government to color inside the lines. Although he ruled as a dictator, Park held his government to strict standards, and didn’t use the corruption strictly for personal enrichment.”

 

Inspired by Aleksander Zotin, Worldcrunch ow.ly/iqQM6 Image source VK ow.ly/iqRmu