TEDTalk: How to expose the corrupt (2009) by Peter Eigen

I have recently started listening to TEDTalks I came across this great talk by Peter Eigen. He talks about corruption in international governments, World Bank, aid agencies, and the EU. Large amounts of corruption exists in many of these organizations. Under the guise of aid to African countries and other third world countries, many organizations divert. Many members of the World Bank thought that bribes are normal when dealing with 3rd world countries. Companies and countries needed to bribe to get the business, because everyone else is doing it. So to compete countries felt that they had to let their companies bribe. He compares it to the Prisoner's dilemma. So who is going to be the first to do the right thing.

He formed the Extractive Industries Transparency Initiative which is an organization that establishes international agreements to combat corruption. Many countries are giving lip service to the organization but not changing their laws. Primarily because too much money is on the table. Many politicians in many countries are being manipulated by large companies and organizations. Justification is the word of the day. "It has always been done that way."

This reminds me of some the companies that I have been involved in where "agreements" where made with foreign countries to bring products into their countries. In return $X millions of dollars would be spent by the company in those countries or in specific cities in the countries. Is this a form of corruption?

That is a great question. I don't have the answer to it, but is it another case of everyone else is doing it.

Just my thoughts.