ABSTRACT
This chapter is concerned with the effects of corruption on the national economy: the way it affects the price level and standard of living. While high-money manoeuvres as in the U.S.A. are involved in the formation of cartels and other monopoly-groups, these have led to intense competition between the monopoly-groups and consequently to higher productivity and expansion of international trade. A student of British political history knows that there was a time in England when Servants of the Crown made personal gains out of the public purse. The government believed in collective land revenue, maintaining law and order and rendering such public service as the artificially limited budgets of those days permitted. The twists of degenerate politics have been responsible for introducing the virus of corruption into the body politic of such countries. The Indian Institute of Public Opinion at New Delhi conducted a worthwhile survey in 1972 about the extent of corruption in the Indian economy.
