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Corruption

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INTRODUCTION
This portfolio will strictly and thoroughly explain an economic system that will provide solutions for weaknesses, advantages and disadvantages of corruption and globalization. Lot of politicians and economists argues about which economic system is good and better for a country. In this portfolio, communism will be chosen as an economic system that must be implemented. And solutions of how it can provide solutions against corruption and globalization will also be stated.

Communism is a theory or system of social organization in which all property is owned by the community, state or government and each person contributes and receives according to their ability and needs. This economic system it’s implemented in some other countries and it is very successful. This economic system suggests that the state have ownership of all factors of production, namely land, capital, natural resources and businesses.

Corruption can be defined as dishonest or fraudulent conduct by those in power, typically involving bribery or one would also say it is Wrongdoing on the part of an authority or powerful party through means that are illegitimate, immoral, or incompatible with ethical standards. Corruption often results from benefaction and is associated with bribery. Some people tend to say communism leads to corruption but that’s not entirely true because it is not communism per se that leads to corruption but it is lack of power that leads to corruption.

Globalisation is the process by which businesses or other organizations develop international influence or start operating on an international scale. Globalisation makes countries to have an international trade that will boost their

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