consequently, engage in sustainable development.

increase approval ratings (happiness index).

fight poverty and inequality (redistribution of wealth).

The paper will show how corruption, if left unchallenged, undermines a countryвЂ™s attempts to: This article argues that all forms of corruption are intrinsically bad (from an economic point of view) justifying the contemporary global practice of combating corruption. This line of thought has it that an analysis of financial data is positively correlated with capital accumulation and productivity growth in developing countries and that these empirical findings are consistent with the theory that corruption helps overcome inefficient barriers. Whereas some would differentiate between bad and good corruption arguing that only corruption 4 which is associated with poor institutions has a negative effect on GDP growth whilst residual corruption (corruption which is uncorrelated with other governance characteristics) is positively related to GDP growth with poor institutions. Countries suffering from corruption have low approval ratings because of the publicвЂ™s frustration of their legitimate expectations, impressions of unfair treatments, expectations of unequal treatment which impose a great risk on individual incentive to produce (Efficiency Cost). The argument, simply put, as well, has it that empirical studies show that countries with higher approval ratings (happiness index) enjoy longer periods of economic development. Countries suffering from corruption cannot implement sound redistributional policies and thus are not expected to take benefit from sustainable economic development despite embarking upon economic growth from time to time for some reason or the other.

Redistribution (based on the idea of Marginal Utility) should only limited by the idea of Efficiency Cost (when it robs production from individual incentive) 3.

Redistribution of wealth is justified by the idea that if utility is the building block of economic policy then redistribution of wealth is a favourable on the grounds that it brings upon well being to the greatest possible number of people (since the poorвЂ™s benefit is much greater than the richвЂ™s loss out of the redistribution process).

empirical studies show that countries with a better redistribution of wealth enjoy longer periods of economic development.

the negative effects of corruption on redistribution as well as approval ratings and consequently on sustainable economic development.

the negative effects of low approval ratings (unhappiness) on sustainable economic development and.

redistribution as the most effective method of eradicating poverty.

the negative effects of income inequality on sustainable economic development and importance of redistribution on grounds of the Marginal Utility theory.

the role law plays in economic development,.

This paper, rather, brings to the attention of the reader the economic importance of combating corruption. The definition of corruption and how much money it involves is not a particularly challenging notion to tackle.

Power of corruption wow