It puts the whole concept of fraud, and grand larceny into a different perspective.
Prof. Ang, Y Y [1, 2] identifies four types corruption likening them to drugs for their level of toxicity:
a) Petty theft: (palming off an officer) - weed,
b) Grand theft: (embezzlement) - toxic drugs,
c) Speed money: (bribing a gov't officer for a favour) - pain killers,
d) Access money: (lobbying) - anabolic steroids.
(a) is what the public mostly hears about, for it involves poor peoples whereas (b, c, and d), where big monies are being exchanged, hardly get coverage, for they involved elites and the wealthy, who hardly ever get mentioned; for instance, (d) with lobbying and political capital dispensation is legal, and not even considered corruption, yet begets the heaviest damage, erodes trust, and destroys economies.
1) Ang, Y. Y. (2020a). China's gilded age: The paradox of economic boom and vast corruption.
2) Unbundling Corruption: Revisiting Six Questions on Corruption
A good discussion with the author.
Podcast Episode Β· ChinaTalk Β· 07/10/2020 Β· 1h 4m
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