William Henderson and B. McGraw talk about corruption. What exactly is corruption? What different forms does it take? How can it be prevented or mitigated? This is Part 1 of 3 episodes.
We first discuss the various categories of corruption. This includes illegal forms such as bribery, embezzlement, fraud, extortion and blackmail. One example of embezzlement we go over is the 1MDB scandal, which involved the stealing of a large sum of money from the Malaysian sovereign wealth fund.
We then discuss generally legal forms, such as cronyism, nepotism, regulatory capture, campaign financing, lobbying, and deferred compensation. Many of these happen across society (namely cronyism and nepotism) while others are mostly concentrated in government (regulatory capture, campaign financing, and lobbying).
We go over the international picture, in terms of which countries are more or less corrupt. We discuss the role of Citizens United in campaign finance issues, the problem with ambassadorships, and the influence of elites vs average citizens on public policy.
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4:04 bribery
5:59 embezzlement
6:20 1MDB Scandal
7:18 fraud
7:30 extortion/blackmail
8:14 cronyism/nepotism
10:10 regulatory capture
13:57 campaign donations
15:33 lobbying
15:50 deferred compensation
16:52 employees not working – does this count?
17:24 >>>corruption index
21:58 Citizens United
22:18 Ambassadorships (2)
24:04 Influence of elites vs average citizens
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