The economy is skewed and economic outcomes are distorted. This kind of corruption should be uprooted on utilitarian grounds as well as on moral ones. Some corrupt collusions lead to the subversion of the flow of information within a society or an economic unit. Wrong information often leads to disastrous outcomes. Consider a medical doctor or an civil engineer who bribed their way into obtaining a professional diploma.
Human lives are at stake.
But the outcomes are lost lives. This kind of corruption, of course, is by far the most damaging. Concessions, licences, permits, assets privatized, tenders awarded are all subject to reallocation fees. Corruption pervades daily life even in the prim and often hectoring countries of the West. We are all corrupt to varying degrees.