Day: October 6, 2014

October 6, 2014

What is Corruption? An Economics-Influenced Take on the Price Hikes

Malaysia’s Federal Government announced that it is reducing the petrol subsidies. For consumers, this means we have to pay an extra RM0.20 for every litre of petrol. In reaction to the “petrol price hike”, many quarters are singing litanies of condemnation. Cries of corruption are heard. But what is “corruption”? Corrupt, or corrumpere, meant “utterly broken”. It is no longer as whole as it once […]