Corruption Home-Grown

Joseph Stiglitz has a good article on Corruption in Business Day. The most relevant he makes comes in this paragraph:

In some countries, overt corruption occurs primarily through campaign contributions that oblige politicians to repay major donors with favours. Smaller-scale corruption is bad, but systemic corruption of political processes can have even greater costs. Campaign contributions and lobbying that lead to rapid privatisations of utilities can impede development, even without kickbacks to government officials. The response to corruption needs to be as variegated as corruption itself.

Does this remind of American Politics, especially since the 1980s? Let Us count the ways:

1) Why are We financing the Military/Industrial complex to the tune of a half trillion dollars a year?
2) Why can’t Medicare and Medicaid negotiate for bulk Drug rates with the Drug companies, a standard business practice with all heavy users of any Product?
3) Why have Corporations storing Wealth overseas attained special Tax rates to bring their wealth home and record it for Tax purposes?
4) Why was Bankruptcy law changed to make it harder for Consumers to avoid their Debt, and easier for Business to shed their financial commitments?
5) Why are Pharmaceutical companies allowed to engage in all the Price-gouging practices once forbidden to industry, especially to Railroads of a century ago?

There are many more elements which could be singled out and cited. America must learn to clean it’s own house before they voice condemnation of other regimes. The Corporate structure seems to walk hand-in-hand with Corruption, and Politicians give reverence to Corporate Executives; individuals who appear to control the political campaign contribution streams. Americans often do not recognize how We appear to the rest of the World, but the old adage of Pots should not call the kettle black genuinely applies. lgl