Answer :
Final answer:
Grand corruption involves significant abuses by high-ranking officials, such as embezzlement of public funds, which severely impacts trust and economic development. It contrasts with petty corruption, which occurs at lower levels through smaller bribes. Addressing these issues is essential for promoting fair governance and economic progress.
Explanation:
Understanding Grand Corruption
Grand corruption is a term that describes significant corrupt practices, usually involving high-ranking officials and substantial amounts of money. For instance, an example of grand corruption is a president who embezzles millions of dollars of public funds. This type of corruption can severely undermine a country's institutions and development.
Grand corruption often involves high-level officials misusing their power for personal gain. It entails actions that not only waste resources but also have widespread implications for society, such as increased inequality and decreased public trust in governance.
In contrast, petty corruption typically occurs at lower levels of government and involves small bribes or favors exchanged for local services, such as a police officer accepting a small bribe for ignoring a minor traffic violation.
Consequences of Corruption
- Damages trust between the public and the government.
- Exacerbates inequality and poverty.
- Hinders economic development by deterring foreign investment.
Overall, understanding these types of corruption—and their ramifications—is crucial in developing effective measures to combat them and foster economic growth.
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