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This paper presents a critique of current thinking on the causes and impacts of corruption and the measures designed to combat it. It begins by exploring the evolution of the current preoccupation with corruption and traces the growth in international initiatives designed to tackle the issue. It then moves on to consider the assumptions underlying the dominant schools of thought on corruption and alternative definitions of the phenomenon. The limitations of the dominant neoliberal perspective are explored in detail, focusing particularly on its blindness to the complex interplay between economic liberalisation, political power and institutional reform. An alternative framework that locates corruption at the systemic level is proposed. The paper concludes with some thoughts on potential directions for future geographical research on the topic.