Essay by EssaySwap ContributorUniversity, Master's February 2008

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One of the biggest problems in political ethics is determining the definition of corruption. There are two dominant perspectives from which corruption can be defined. The first definition is from a legalistic perspective. This set of beliefs concentrates on the legal framework that determines whether an action is considered unethical or corrupt. The objective of this definition is to deter acts of corruption by imposing sanctions and fines. The second dominate definition takes into consideration the public?s interests. ?Corruption is behavior that harms the public interest or betrays the public trust that politicians have a moral duty to uphold?. When an individual considers corruption it is important to understand that corruption does not just apply to a single character. The corrupt individual alone cannot wreak havoc of monumental magnitude unless they find themselves within a corrupt environment where they can fulfill their devious intentions. Thus, in the professional world, an individual?s corruption can only be realized when the corporation is flawed.

It is the faulty machinery of a defunct organization that allows corruption to fester and grow. Throughout history, there have been several instances in which a corrupt institution has acted in illegal and unethical ways. More often than not the interest of its employees and investors were jeopardized. For the purpose of this essay, three institutions will be analyzed; Bre X Minerals Limited, the International Olympic Committee and Enron. All three of these corrupt institutions present a great threat to the political and economic stability of the Canadian market.

To fully comprehend corruption from a holistic perspective it is imperative to study the unethical practices of a corporation laced with scandal and fraud. Canadian corporations are not exempt from scandal and fraud to gain profit. The following quote signifies the magnitude of the scandal: ?The 6 billion dollar gold...