:: Przegląd tematu - Cheap Tiffany Sets5Culture And The Cost Of Capital

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Leslie Pratch
In the late 1990s, the New York Times Magazine ran a story by Jeffrey Goldberg called "The Crude Face of Global Capitalism." One sentence defined Azerbaijan as "the intersection" of "Soviet efficiency and Ottoman integrity."
The common view is that the corruption in Middle Eastern countries and in Russia is enormous. China and India also have corruption problems. About three years ago, a reporter on NPR asked "What would it take to get a $3 billion construction contract in Iraq?" (Answer: $1.5 billion in bribes!) Look at the economic inefficiency in that.
In August, 2006, David Brooks wrote a column called in the New York Times called "The Culture of Nations." Diplomats from Middle Eastern countries run up hundreds of hundreds of tickets; Danes, Swedes Cheap Tiffany Jewelry, and Norwegians do not. "If you"re Swedish and you have a chance to pull up in front of a fire hydrant, you still don"t do it. You"re Swedish. That"s who you are."
When I look at the United States, I think the United States has done very well because we have a business system where actors behave with integrity. Certainly the dollar-weighted average of businesses in America behaves with integrity.
Corrupt societies have a higher economic cost of capital. That"s another way to say that higher integrity countries are wealthier. If I have to get 30%-35% return because I am so scared of what"s going to happen to my investment Cheap Tiffany Sets, there will be fewer investments in that region. Now, that"s a surmise. But if it"s true, then businesses in countries that have corruption do not do well.
It may well be that there is a low-level corruption trap. If a world is sufficiently corrupt, it may become impossible to make a living without succumbing to the corruption. It"s in Genesis, when Abraham is going to visit his nephew Lot in Sodom and God is letting Abraham know he is going to punish Sodom. Abraham begins to bargain with God: "Certainly you would not destroy a city with 100 good people there?" God says "No." "Certainly you would not destroy a city with 50 good people?" God again says "No." Abraham works it down to one person and God grudgingly says, "Okay, you go find one." God sends a couple of angels and, the story goes, some rowdies pound on Lot"s door. They want Lot to fork over his guests for their sexual pleasure. Lot refuses: "No, these people are my guests. I have a holy duty. Take my virgin daughters."
Now Tiffany Necklaces, there"s a picture about corrupt behavior.