High cost of corruption around the world
Political say goes to very rich individuals who can afford the 'access' tariff
COMMENTARY
By Richard W. Rahn - - Monday, November 21, 2022
OPINION:
Why are some countries rich and others very poor? At the top of this list, put corruption — both policy and personal. The enclosed table contains one of the common measures of country corruption, published by Transparency International this past January, which shows the 10 least and 10 most corrupt countries. Other measures of wealth and poverty vary slightly, but all are close to this list.
The U.S. now ranks number 27, a drop of 11 places in just the last five years. Historically, the U.S. had been viewed as one of the least corrupt countries, but no longer.
There is a strong relationship between the level of corruption and per capita income. The least corrupt countries all have high per capita incomes, and the most corrupt countries have the lowest per capita incomes. Some countries became rich because of plentiful natural resources. Of the 10 countries with the lowest corruption, only Norway has the benefit of a major natural resource (oil and gas) in relation to its population. Venezuela, which has much greater oil and gas resources than Norway, was rich but is now poor — all due to bad policies (mainly socialist) and corrupt government officials.
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READ MORE: https://www.washingtontimes.com/news/2022/nov/21/high-cost-of-corruption-around-world/
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