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>The reason we have to have laws about such things is that paying the bribe is always beneficial to the individual company. Refusing to pay bribes only helps if
by from 5y ago
>The reason we have to have laws about such things is that paying the bribe is always beneficial to the individual company. Refusing to pay bribes only helps if every company refuses to pay the bribe.
That's great in theory and that was the intent of the people who wrote foreign bribery laws but it never works out this way. What happens in practice is that American companies leave the country and companies from places like Russia and China who are willing to pay get the business. Or it goes to local companies who also still pay.
>If you can't do business without bribing someone, that's like not being able to do business without using slaves; what you should do is stop doing business, not start using slaves.
Except paying the bribes doesn't cost anyone except the company paying them. You've got it reversed here: the company paying the bribes is often the victim. Do you think Telia really wanted to pay $320 million to the Uzbek president's daughter? They probably would rather have had Uzbekistan have a telecom licensing system that actually worked like the FCC.
- HelloMcFly 5y ago> Except paying the bribes doesn't cost anyone except the company paying them. It also establishes a norm of pay-to-play and increases the overall cost of entry into a market. This can decrease overall investment/entrants into the market and subsequently services and employment from being offered to residents. The company can be a victim and retain some culpability.
- ClumsyPilot 5y ago"Except paying the bribes doesn't cost anyone except the company paying them" This is so delusional its unbelievable! When a multinational firm arrives in a little town in X in a random country and showers local officials in bribes, they are funding organised crime. Are you so naive to think it's just to be 'allowed to operate'? When someone protests that company's development or organises a strike, they now might be found dead in a ditch. Do you think the company paying bribes will be bothered with pollution or fire safety regulations?