ABSTRACT. This paper examines the significant problems that result from wasteful spending, which include fiscal irresponsibility, deferred maintenance, and excessive executive compensation. Waste in areas such as health care, defense, higher education, and municipal government are studied. The authors conclude that executives and auditors should be as concerned with wasteful spending as fraud because the former can be as devastating to an organization as the latter.
Keywords: fraud; wasteful spending; health care; higher education; transit authority; Pentagon
How to cite: Friedman, H. H., Fischer, D., and Schochet, S. (2022). “The Harmful Effects of Wasteful Spending,” Review of Contemporary Philosophy 21: 7–20. doi: 10.22381/RCP2120221.
Received 13 January 2021 • Received in revised form 25 April 2021
Accepted 26 April 2021 • Available online 10 May 2021