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On the other hand, Philip (2006, p. 45) describes corruption as having to involve high public office, substantial and systematic expropriation of benefits, and significant damage to the public interest. Corruption as having to involve high public office is considered as the most important of these three conditions and the other two are complementary to it. Lee (2006, p. 221) states that corruption is a destructive crime which not only undermines quality of life but also causes injustice and inflates business costs. The seriousness of this crime leads nations to improve governance by redefining the role of government, overhauling the system of incentives, and strengthening domestic institutions in order to ensure checks and balances (Rahman, et al., 2000, p. 17).
Corruption is often called “black/grey market or “underground economy” whose rules are almost similar to those of legal markets (Stachowicz-Stanusch, 2010). It is considered a risky activity because of the presence of “policing” in society (Chakrabarti and Subramanian, 2003).The economics of corruption operates in such a way as serving as a means to satisfy certain planned and desired human ends. According to Klitgaard, et al. (2000), corruption is a crime of economic calculation in that the tendency for a public official to engage in it is when there is a slim probability of being caught alongside a mild penalty with large pay-off relative to the positive incentives. Since corruption is committed within the political machinery of the state, it is not only considered an economic issue but a political issue as well (Stachowicz-Stanusch, 2010, p. 122). The economic and political aspects of corruption are certainly the basis for advocating some solutions to this problem on an economic point of view (i.e., increasing pay and rewards) and political point of view (i.e. providing political and legal basis for
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However, some employers decide to pay their employees in forms of products or a family vacation. Compensation can be distributed as extrinsic or intrinsic rewards. Intrinsic compensation is constructive reinforcement that can reflect an employee’s state of mind while performing their given tasks and duties (Joseph).
The author point out towards certain options available for the students to manage the finance for their studies. The article basically strives to provide some solution to the problem of getting finance for the higher education. In the article, the author includes different possibilities that could work to generate finance for students’ higher education and discuss the pros and corns of each of the described method.
Intention is an important factor. Thus, the “gift culture” cannot be an excuse for someone who practice or engaged into corrupt practices. I believe that corruption exists in all kinds of societies and does not leave out the traditional ones. Deflem (1995) viewed traditional practices in non-industrialized societies as practices that cannot be labelled corrupt because these might be justified in the traditional life world.
From this, globalization needs to be defined from different perspectives to cater for the needs of explaining the relationship between globalization and corruption. In addition, there is mention of the role of international finance institutions and how they affect the prevalence of corruption or like of it.
A competitive market or a free market is an economic system that resolves the economic problems of resource allocation with the help of the market mechanism. In such a kind of economy the invisible hand operates and therefore the decision making regarding the prices and the quantity is decentralised among the producers and the buyers who are the active participants of the economy (Slater and Tonkiss, 2001, p.
In the article Pay Your Own Way (Then Thank Mom), Audrey Rock-Richardson contends that college students should take the responsibility of financing their education basing her arguments from her personal experience. After reading her interesting article, I feel a deep admiration for her strength and commitment to pursue her college education amidst the hardships that she must go through.
Regardless of the job type, whether the skills involved require a minimum or a maximum amount of training, a woman who has all the skills necessary to perform highly in a given position will (almost without fail) attract a lower wage compensation
Usual rehearsal is to link the pay with grade structure, and seniority levels. The concept of new pay is to link the pay and rewards system of the employees with the business strategy and change. (Lawler III, 1995) The concept was further developed by academics by arguing
While colonizers use the force to make colonies submissive, colonies have a right to stop this injustice when they are ready, using the same violence. Fanon’s ideas disregard any ideas about diplomacy; he states that in this system any cooperation is impossible as colonized people have to accept values of colonizers to deserve their attention.
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