International corruption is endemic. The World Bank estimates that the equivalent of $1 trillion is lost every year to corruption worldwide. Corruption perverts economic management, thereby causing untold misery, conflict, and environmental destruction to the world.
Corruption is both the cause and the result of failing governance, particularly failing global governance. But it’s clear our present paradigm of global governance, which puts the pressure on sovereign nation states and their governments, is failing in regulating a globalized economy.
The present system leads to governance failure at the global, regional and local levels. The outcome of our present system is unacceptable: Poverty, injustice, refugees, conflict, violence and terror.
About the author
Peter Eigen
Prof. Dr. Peter Eigen has led initiatives for better global governance and the fight against corruption for decades. In 1993, he founded Transparency International and has taught law and political science at universities including Harvard, the University of Washington and Bruges College of Europe. Germany awarded Eigen its Grand Cross of Merit in recognition of his efforts to combat corruption in January 2013.
