| In1943, a big serious fraud had taken place in China. It is called "The USD bond fraud". Someone like Kung swallowed nearly more than20billion national currency by his own power. When the incident had been exposed, all the ordinary people hated their behavior. Chiang Kai-shek had to enquire into the matter, and he expressed his anger on it. But with the investigation of this case, Chiang Kai-shek caught in a contradiction between the case and family reputation. In the end, he stopped the investigation. It was one of the important reasons made them lost their power. We can see the shadow of the "power" in this historic event everywhere, include the incident and the course of the investigation. The power had become a commodity, so Kung used it freely in this fraud case. The only reason was to get large interest for themselves. Although the USD bond fraud has to be an old case, but Rent-seeking behavior of power is still existed in today’s living environment.Corruption is a global phenomenon, our country is one of the more serious corruption, which seriously affected China’s social stability and security. Especially in the transition period of China’s economic system, the rent-seeking activities are widespread. And they are never disappeared, but become more hidden than before, which caused people’s worry about them. So I choose a typical corrupt historical event, use the economic theory to analyze it. From this analysis that we can know what made the matter happen. The root was the monopoly of power, combined with the Government’s supervision system was not perfect. All of these were realistic conditions for Kung’s rent-seeking behavior.In today’s social reality, the existed problem of corruption makes the government of many countries feel headache, and China is no exception. Corruption seriously affects the economic development of the country, resulting in economic losses, and at the same time it threatens our country’s legality. So we need to explore the dangers of corruption to the country, and seek a way to deal with corruption mechanisms. In the study of the various corruption issues, the rent-seeking theory is an important tool.For the above reasons, this article starting from the USD fraud case, to learn the historical experience to provide advice to the reality tackles corruption mechanism. The paper is divided into three parts, a total of five chapters.The first part is the first chapter. Introduce the research significance of the article, and summarizes the previous historical research. Propose be used theoretical basis, including the process of the development of the rent-seeking theory, the concept of rent-seeking, asymmetric information theory and level agency relationship. Then describes the structure of the article and the research methods used briefly. At the end of this part, I summarize deficiencies and innovation.The second part, including the second, the third and the forth chapters. The third chapter reviews the occurrence of the USD bond fraud. Chapter3uses the theoretical analysis to analyze the matter. We can know the Kung uses his power to swallow the dollars bonds masterly. The next chapter studies the reasons for the USD bond case in the presence of power rent-seeking, as well as the harm what the case brought. Kung and others used their power to seek large amounts interests. And at last, they lost the support from people.The third part is the fifth chapter. Based on the USD bond fraud’s summary, combined with the reality, to explore the possible impact of the social reality from the Authority Seeking. The direct consequences are destroyed social equity, the credibility of the government is declined, etc. This country needs to build an efficient operation of the power management mechanism to increase the rent-seeking cost, in order to reduce the power of rent-seeking activities of government corruption problem. |
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