I appreciate your comment. I presume you prefer the west (at least in terms of political and economic stability) to your home country from your comment. Do you have any concerns about how capital openly purchases the interests of politicians in the us? I guess I had written off the difference in citizen comfort to the mountains of cash americans roll around on.
> Do you have any concerns about how capital openly purchases the interests of politicians in the us?
The U.S. and the West at large aren’t perfect, but it fairs much better than most of the world in preventing corruption.
Capital also purchases influence in developing/underdeveloped countries, but in a much worse way. It’s often very cheap because desperate locals are willing to sell out their country for any meager amount.
Here’s a fitting example: Benny Steinmetz (a mining tycoon) paid $8.5 million in bribes to the spouse of Guinea’s former President to obtain exploration permits for a mine [1].
Steinmetz sold 51% of the mine shortly after for $2.5 billion [2]. In other words, he extracted 300x the bribe, and the Guinean official never bothered to think her country was being robbed in broad daylight by the bribe she received.
Many similar cases occur in Africa, wherein foreign companies pay cheap bribes to rob countries of their resources.
The African leaders (and populace) are often willing to part with their resources for cash rather than harnessing it for internal development (this part is difficult, unlike the easy way of collecting cash and spending it foolishly).
Add in endless petty corruption, and the result is the mediocrity of many countries that we see.
