"It is true that profits would be higher under a regime of full employment than they are on the average under laissez-faire; and even the rise in wage rates resulting from the stronger bargaining power of the workers is less likely to reduce profits than to increase prices, and thus adversely affects only the rentier interests. But 'discipline in the factories' and 'political stability' are more appreciated than profits by business leaders."

That is is just plain corruption. Leaders (whether in governments or businesses) would rather have power for themselves than well-being for the country. Honestly, I had a hunch that developed nations didn't have less corruption, rather, the impact of corruption has been softened. Each individual industry leader might be corrupt but given enough competing industries their power diminishes. This is why government corruption is primarily associated with oil countries (or other resources) because controlling that single industry is the same as controlling the entire country.

You can clearly see it in Germany as well. Merkel and her party have close connections with specific industries commonly associated with Germany, the most prominent examples are car manufacturing because it is an export industry and the coal industry because Germany is resource poor (coal is all we have). If you work at VW CDU is the party you vote for...