Corruption and Economic Development
CORRUPTION AND ECONOMIC DEVELOPMENT Economic development is a broader concept that it not only includes quantitave changes like increase in national output or per capita output in the economy in fact it also includes certain qualitative or social changes like increase in literacy rate, improvement in health care facilities, environment conservation etc. Economists like Colin Clark and Kindleberger perceived economic development in terms of economic welfare or in terms of actual availability of basic necessities to the people of a country. Under developed economy remain backward because in that economy there is low level of economic development as compared to developed economies. In such countries there is high inequality of income and wealth that a small community is holding handsome amount with them and rest having enough money barely to survive. According to Prof. Todaro "The gap between rich and poor is generally greater in less developed nations than in a developed na...