The news of Bernard Madoff and the billions of dollars lost in his worldwide Ponzi scheme reinforces the connection between money and corruption. It’s a relationship that is also evidenced in countries such as Zimbabwe, Somalia and the Congo—in these nations corruption can been seen as a force that’s impeding economic development. For insight into how poverty and global corruption contribute to many of today's international crises The Takeaway turns to economist Edward Miguel. Miguel is the co-author of the new book "Economic Gangsters: Corruption, Violence, and the Poverty of Nations."
"There's an economic gangster inside of all us and if the conditions are right and the institutions are weak, that economic gangster could come out."
— Edward Miguel on how corruption impedes economic development