Answer to Question #30857 in Economics of Enterprise for abihu
Between $1 trillion and $1.6 trillion dollars are lost globally each year to illegal activities, according to World Bank estimates. Corruption decreases the amount of wealth in a country and lowers the standard of living. Corruption affects you even if you don't come into direct contact with it. For example, corruption:
• Discourages businesses from operating in a corrupt setting, reducing the overall wealth in a country.
• Reduces the amount of money the government has available to pay workers and buy supplies such as books, medicine and computers.
• Distorts the way the government uses its money, lowering the quality of the services it provides: schools, health clinics, roads, sewer systems, police.
• Allows those with money or connections to bend the law or government rules in their favor.
• Undermines everyone's trust in government.
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