Corruption in the Philippines
ASIAN COLLEGE OF TECHNOLOGY 10-Perseverance RESEARCH REPORT How does corruption affect a country’s economy? Economies that are afflicted by a high level of corruption—which involves the misuse of power in the form of money or authority to achieve certain goals in illegal, dishonest, or unfair ways—are not capable of prospering as fully as those with a low level of corruption. Corrupted economies are not able to function properly because corruption prevents the natural laws of the economy from functioning freely. As a result, corruption in a nation's political and economic operations causes its entire society to suffer. Corruption affects a country in a way that it lessens the overall GDP of a country. Imagine 5 people saving money together and one of them takes half of the savings without informing the other 4. The total savings would then be halved and only one person would benefit from taking half of the savings. That is a basic example of corruption and its e...