High-placed people sometimes accept money to take decisions that favour the top and hurt he People. Often corruption is however a trade in power and influence. I do this for you and in the future you do something for me. Money is changing hands in the form of perks, invitations for exclusive meetings, membership cards of extravagant clubs, free holidays, higher paid jobs etceteras.
The powerful can determine their own extravagant income – their friends have comparable incomes. It is not the market that decides but corruption, a decay of the decision-making process in which powerful people decide about their own income (and bonuses).
Nobody controls, employees keep silent out of fear to lose their job or not being promoted. Some people publicize about the extravagances of the top but nobody cares. The incorrect spending of public and private money continues and common citizens pay higher prices and taxes.
People who write about corruption emphasize corruption in which money is directly involved. They disregard institutionalised corruption, perks, extreme salaries and decisions that hurt the 99% and favour the top. This legalised corruption is even more damaging than direct corruption.
Unnecessary industrial sites or flaunting prosperous offices are built at too high costs. Public money is used in the derivates trade and when money is lost, responsible people remain on their posts. It was not their money, they could not help it, the 99% pay the damage. The honours and the perks go to megalomaniac perpetrators.
When the silent corruption of the top (and the decay in the decision-making process for financial gain) is not stopped, this cancer in our society will continue to spread even further. Now already three or four percent of the National Income is added to the already high incomes of the top. Corruption is punishable but hardly anyone is prosecuted.
Controllers also benefit from corruption. It can only stop when the people at the bottom of society start to punish greedy corrupt leaders using Autonomous Clubs. Nobody else is doing it.
See my blog article “Towards a world without a 1%” https://downwithelite.wordpress.com/towards-a-world-without-a-1/
Joost van Steenis