Results 1 to 5 of 5
Views: 1598 | 25-10-06, 07:34 PM #1
Galbraith’s ‘bezzle’ at work with RTI
I have read that John Kenneth Galbraith, a respected economist (and, incidentally, the US ambassador to India at some point), had pointed out that in all systems there is always some amount of corruption. Usually at the edges, it keeps nibbling away at the economic value of the system. Galbraith called this the “bezzle”.
He hypothesised that in good times, when people make lot of money, they paid less attention to the bezzle.
It would grow until it reached large enough proportions to threaten—and sometimes wreck – the stability of the system, following which there would be uproar and new laws, rules and regulations would be created to tame this most recent type of stealing.
› Find content similar to: Galbraith’s ‘bezzle’ at work with RTI
26-11-06, 03:10 PM #2
This is universal law. And this law is responsible for change and evolution as when system breaks down people search for a better alternative.
04-01-07, 02:50 PM #3
Wow that is a great thing 'bezzle'. I love this word
29-01-07, 11:24 PM #4Helpful Member
- 0 Post(s)
- 0 Thread(s)
- 0 Post(s)
30-01-07, 08:13 AM #5