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Ill-effects on economy: Costs of corruption

Except mother's love, everything costs; this is the first lesson in economics a school student learns. Indeed nothing is free in this world. One has to pay for it. But when one pays for something one gets something tangible like bread or butter or intangible like the services of a lawyer or a doctor. This is the positive aspect.

There is also negative aspect to costs in the sense that one gets nothing tangible or intangible in return but more costs. This negative aspect of cost is reflected in higher prices, higher taxes etc which in turn are nothing but costs of inefficiency and corruption at various levels inside and outside the government, within the organizations as also within the system itself.

No systematic study has been done to quantify the costs the individual or for that matter the country as a whole has to pay for the inefficiency and corruption.

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News briefs

On Monday just before 2 p.m., a black male with a light complexion, about 5 feet 6 inches tall and wearing black jeans, a white shirt and black baseball cap demanded money from a teller at the 762 Joseph Ave. location and left with an undisclosed amount of cash.

On Tuesday, a man fitting a similar description but wearing a red and white baseball cap entered the location at 70 Lyell Ave. and left with an undisclosed amount of cash.

Brooks gives speech in D.C.

Monroe County Executive Maggie Brooks gave a speech Tuesday before the Federal Medicaid Commission in Washington, D.C., about the success of Medicaid managed care programs used by local insurance providers.

Brooks was appointed to the commission in July 2005 by U.S. Secretary of Health and Human Services Mike Leavitt and is the only public official from a local government on the panel.

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