Another Dimension Of Corruption

By Hema Senanayake –January 1, 2015

Hema Senanayake

The contemporary money based economic system is very peculiar. It does not behave the way that most of us want to. It behaves in a very particular way. However, like many other phenomenon, its behavior can be explained under the cause-and-effect principle. Due to this very reason we can put it to behave the way we want it but only if we understood its systemic behavior accurately.

This is why I always insist to appoint a professionally qualified person as the Minister of Finance.

It appears that the economy is a physical system; it produces, it distributes and it innovates –And all these activities are tangible. But amazingly this whole system is purely depended upon on a hypothetical system created by human imagination –And that hypothetical system is known as monetary system. The monetary system is not real or physical phenomena. In fact I do not know any large physical system that truly depends upon a hypothetical system than ECONOMY.

Corruptions exist in such a system. It is a reality. Corruptions increase the cost of doing businesses. It distorts the distribution of consumable output. Once, a Cabinet Minister asked me to explain the economic impacts of corruptions. I told him that, “Up to a certain level the corruption is a moral issue, but beyond that it becomes an economic problem.” This means that corruptions at any level is a morale issue hence must be stopped; but it also intimates that corruptions are not always an economic issue that prevents economic development.

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