Crony Capitalism and Political Corruption are the worst forms of White Research Paper

Crony Capitalism and Political Corruption are the worst forms of White Collar Crime - Research Paper Example The arrangement of crony capitalism has increasingly been influencing the legislative and regulatory actions of governments throughout the world. On the other hand, the aspect of political corruption has been imposing serious threat on the integrity of the national democracy. The concept of political corruption can be defined as abuse of public power or right for illegitimately, usually for gaining secret and private benefits. The practice of political corruption often varies depending upon the country and its jurisdiction. Both the concept of crony capitalism and political corruption are associated with white color crime and their practice in various forms has rendered adverse impacts on socio-economic environment of a country. Thesis Statement In the present day context, the role of government and its influence on socio-economic activities have immensely augmented. It has been recognized that crony capitalism and political corruption in the modern day context present worst forms of white collar crime committed by political persons and business organizations. In relation to this, the paper intends to identify the impact of crony capitalism and political corruption on the socio-economic environment of a country and develops arguments favoring the notion that crony capitalism and political corruption are the worst forms of white collar crimes witnessed by the world today. Crony Capitalism and the Case of Solyndra Crony capitalism in general is a way of caricaturizing the relations between the two or more parties in two different spheres in a capitalist economy. The first subject related with crony capitalism may include economy or the market. The economy or the market areas may involve the operations of businessmen who own and manage business organizations engaged in a variety of activities with a prime goal of making profit. The other subject area includes the public authority or the state through which public rules, regulations, policies and laws are made and enforced (Allen 129-139). Contextually, the case of Solyndra that has been witnessed by the United States in the recent times provides evidence about how crony capitalism is being practiced in the country. California based Solyndra, a solar panel manufacturer declared bankruptcy in August 2011 after having received US$528 million as federal loan guarantees. Moreover, its bankruptcy rendered more than 1000 people jobless. It was been observed that the loan guarantee was allowed in 2009 following the pressure from the company itself and the White House. A report issued by House of Energy and Commerce committee argued that the sinking of Obama led government’s US$528 million investment was the result of involvement of Obama Administration Officials and certain key Solyndra players. It has been further argued that despite the risks associated with funding of loan to Solyndra, the federal government did not resist in approving loan guarantee to the company rather it has been invol ved in backing the company in raising the loan guarantee. The political and government involvement in such scams is one of the worst examples of Obama led Administration’

Research Project Essay Example | Topics and Well Written Essays - 1750 words

Research Project - Essay Example These sources of energy, particularly oil, have also been associated with water pollution as well as destruction of marine life and diversity through oil spills in oceans, seas, rivers and lakes among others. Even most of the existing renewable sources energies such as geothermal, wind and hydroelectric have been extremely expensive to install. In addition, these sources of energies are normally extremely affected by changes in weather conditions. Also, their abundance as compared to that of the solar energy is limited. Due to the problems associated with the available sources energies such as fossil fuels, nuclear, wind, hydroelectric and geothermal, the use of solar energy is becoming popular in most parts of the world, particularly in China and Africa (House-Soremekun & Falola 2011). The solar energy seems to the source of energy that is more sustainable as compared to other sources of energy (Richards 2010). This paper, therefore, aims at discussing the use of solar energy in Afr ica and basics of this source of energy. Africa receives more solar radiation than any other continent in the world, thereby making it the continent with the greatest potential than any other continent in the world. Sun shine in Arica is virtually uninterrupted, and one of the most abundant energy resources in the continent. However, this precious source of power has not been fully exploited in the continent for number years. Despite the abundance of this energy resource, it is estimated that about 2 billion individuals (people) in world (most of them from Africa) either struggle or fail to meet their daily energy requirements due to scarcity of supply of energy (Richards 2010). Even though there has been reluctance in the harvesting of solar energy in Africa, the situation seemed to have change to day since a number of organizations in Africa as well as African governments have been turning their attention towards renewable and sustainable sources of energy. Amongst the renewable s ources of energy that have been greatly focused by the African countries is solar energy. Africa as continent has made number of milestone towards harvesting solar energy. For example, the headquarters of United Nations Environmental Program (UNEP) based in Nairobi (Kenya) is fully powered by solar energy (House-Soremekun & Falola 2011). Further according to House-Soremekun & Falola (2011), South Africa and Ghana are also planning to build amongst the biggest solar power plants in the world. Solar energy is also known as the radiant light, and it is referred to as heat energy from the sun (Richards 2010). This energy can be converted by different transducers to produce different sources of energy. For example, solar energy can be converted directly to electric energy by use of solar cells (also known as Photovoltaic). This particularly important for small scale energy requirements such as for watches and calculators. The solar energy can also be directly used to heat water for both domestic and industrial use. In addition, solar energy can be used to produce large amounts of solar energy through the use of solar radiation concentrators such as parabolic troughs. We have discussed how solar energy is converted into electric energy or used as heat energy to heat water among others (Hantula 2010). The question that might probably be lingering in the mind of the reader is how this precious energy is formed