Professor Phillip M. Nichols visits WPBA for an evening on corruption
Poverty at home and abroad was the WPBA’s theme this spring – so where does corruption fit in? Corruption creates economic inefficiencies and incentives for rent-seeking, reducing productivity and growth. With endemic corruption, a healthy, poverty-free society doesn’t stand a chance. With the goal of spreading awareness of this key obstacle to reducing poverty, the WPBA co-hosted “An Evening on Corruption” with the Wharton Consulting Club on Wed?, April ?th. The event featured Professor Phil Nichols, an Associate Professor of Legal Studies and Business Ethics at Penn who is recognized for his expertise on corruption, international trade institutions and emerging economies.
As he began his talk, Nichols immediately noted the diverse group of students that had settled into the Huntsman Hall classroom, celebrating the fact that Wharton students were genuinely interested in the problem of corruption. Nichols called on the students to actively engage with him and challenge his views, encouraging an intimate, two-way discussion.
Nichols approached the subject from an introductory perspective, sprinkling his presentation on the broad trends and ideas of corruption with specific facts and numbers that on corruption around the world. Corruption, as defined by Nichols, is the “misuse of public office or trust for personal gain.” He took students to the Transparency International website and discussed the organization’s corruption indicators, highlighting Iraq on the low end and Singapore on the high end. Interestingly, Nichols made the distinction between levels of corruption in different sectors of one country: where the level of corruption within the government in Singapore (bribe-takers, as Nichols called them) was very low, the level of corruption in the private sector (people offering bribes) was slightly higher.
The evening’s talk was the perfect primer on corruption. Given the intangible nature of corruption, one of the key elements necessary for preventing its spread is awareness and open discussion. For those who missed the discussion in April, WPBA encourages students to consider taking one of Nichols’ courses, which will undoubtedly spark an even more precise and interesting debate on corruption’s roots and manifestations.
To visit Professor Nichols’ website, follow this link:
http://lgst.wharton.upenn.edu/nicholsp/index.htm
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- Professor Katz on the American Welfare State
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