ABSTRACT
Corruption is not a new phenomenon. Kautilya's Arthashastra, written around 2,000 years ago, discussed corruption and corruption scandals. It is important to highlight the differences between corruption and corruption scandals, despite the terms being used interchangeably by several authors. The chapter highlights other types of corruption, including, for example, "tenderpreneurship" and "javelin-throwing", in addition to instances that fall within the Rose-Ackerman and Palifka framework, such as self-dealing, kickbacks and bribes. If corruption could be measured in its entirety, it could probably be eliminated. It goes far beyond the payment of bribes; thus measuring total bribes paid does not fully capture corruption, as it inadvertently ignores corrupt acts, which are not accompanied by the payment of a bribe. The increasing interconnectedness of the global economy has facilitated increased possibilities and occurrence of corruption. The global cost of corruption is staggering. This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book.
