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Government As Corrupt Policeman, Japanese Descent From Heaven, And Swiss Bank Accounts

In: Capitalism in the 21st Century Why Global Capitalism Is Broken and How It Can Be Fixed

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  • Donghyun Park

Abstract

Perhaps not altogether surprisingly, a number of city officials who were in charge of overseeing the construction of the Sampoong Department Store building, were found to have received bribes for looking the other way when the owners made illegal changes that eventually brought down the structure. Those officials were jailed, along with Sampoong executives and construction company officers. In an ideal world, omniscient and benevolent government bureaucrats with a deep sense of public service strictly enforce building codes that prevent Rana Plazas and Sampoong Department Stores from being built in the first place. However, in the real world, in the world in which we live, bureaucrats are often neither omniscient nor benevolent, and the only deep sense many have is an uncanny, almost canine, sixth sense for sniffing opportunities to line their pockets with bribes from those they are supposed to regulate…

Suggested Citation

  • Donghyun Park, 2019. "Government As Corrupt Policeman, Japanese Descent From Heaven, And Swiss Bank Accounts," World Scientific Book Chapters, in: Capitalism in the 21st Century Why Global Capitalism Is Broken and How It Can Be Fixed, chapter 17, pages 74-76, World Scientific Publishing Co. Pte. Ltd..
  • Handle: RePEc:wsi:wschap:9789813274242_0017
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    More about this item

    Keywords

    Capitalism; Globalization; Inequality; Entrepreneur; Financial Industry; Government; Socialism; Market;
    All these keywords.

    JEL classification:

    • F6 - International Economics - - Economic Impacts of Globalization
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • N2 - Economic History - - Financial Markets and Institutions
    • A1 - General Economics and Teaching - - General Economics
    • F00 - International Economics - - General - - - General

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