Because contributions for charitable and educational purposes were the earliest form of corporate social action, their pattern enables us to test the… - Neil H. Jacoby

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Because contributions for charitable and educational purposes were the earliest form of corporate social action, their pattern enables us to test the validity of our theory. Corporate giving was stimulated by federal legislation in 1935 authorizing companies to deduct from taxable income up to 5 percent on account of such gifts.

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About Neil H. Jacoby

Neil Herman Jacoby(September 19, 1909 – May 31, 1979) was a university professor and public servant and was widely recognized as an expert on matters of taxation, finance, economic policy, and business-government relationships.

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Alternative Names: Neil Herman Jacoby N. H. Jacoby
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Political influence is exerted differently in the industrialized countries than in the agrarian, preindustrial societies. In the former, demands by individuals and special interest groups normally reach the political system before the enactment of legislation. Indeed, legislation is usually a consequence of such demands. Bribery of officials by businessmen is considerably lessened by the existence of open channels for the exercise of political influence.

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India’s political democracy was built on political payments. ‘Speed money,’ shakedowns, and gaining illegal access to wealth—known as ‘black money’—occupied much of the time and energy of the Congress Party while it was ruling India. For generations, corruption of government officials by Indian businessmen has bought official tolerance for hoarding, adulterating, smuggling, and black marketing. Payoffs have been an integral part of Indian business-government relations.

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