Corruption as Part of the Global Corporate and Public Governance - Dissertation Example

A simple search through the web allows access to uncountable evidence of corruption in almost every dimension of modern human society, whether concerned with the political environment or related to the most delicate section of education. Corruption has today gradually expanded to a magnitude, where it knows no boundary in impeding virtue at the core of different institutions. Widely denoted as an ‘evil’, corruption is censured by all. Nonetheless, it still shamelessly exists in modern society, which raises doubts on the effectiveness of the various measures taken against such immoral practices.

The enactment of anti-corruption laws is considered a key measure to obstruct corruption from spreading further, which is also often used to raise awareness and steer people towards shared responsibilities to preserve transparency. However, as the propensity and severity of corrupt practices are being reported at a consistent rate, the usefulness of the measure has been under considerable suspicion, ironically indicating it as similar to ‘broken swords’. Perhaps the context of corruption was first documented in Kautilya’s Arthashastra in the 4th century BC, implying the practice as an irrevocable phenomenon innate to human nature.

This particular thought has since then been evaluated, attributed and absorbed in modern theories concentrating on corruption, which may further offer a justification to the gaps allegedly persistent within the anti-corruption laws as a reason for its repeated failure. According to the World Economic Forum, over 5% of the global GDP accounted for the cost of corruption in the world as found in the reports of 2013. Compared to the previous years, the trend can be observed as upward climbing rather than declining, unlike what was expected with the enactment of anti-corruption laws around the global dimensions.

While economists continue reviewing the peril and lawmakers discuss further enactments, the questions remain unanswered.