INTEGRITY AS A
FIFTH FACTOR OF PRODUCTION
In many
countries of the world today, the dearth of integrity has been the major factor militating against rapid development and equitable distribution of resources. It also hampers the administration of Justice and good governance. And the result is chaos, poverty and underdevelopment. To this end many economist have argued that the problem of development goes beyond the four
factors of production which comprises of land, labour, capital and entrepreneur. They opined that there is need to insert a fifth (abstract) factor which the
entrepreneur as the sole manager of other factors must possess.
The argument is that when an entrepreneur fails to perform credibly with the three other factors, then his claim of possessing the fifth factor-integrity must be questioned. Unless in situations where there are external disruptive factors such as conflicts and sanctions.
In propounding his integrity theory, the professor of economics Mr. Emmanuel Nwosu of Imo State University Owerri in Imo state of Nigeria, stated that the absence of the integrity factor manifest most in public administration or governance, where corruption is most likely to take a centre stage.
Taking a case study of some countries where corruption is on the high side. He argued that the major reason for their slow growth rate and high poverty rate is corruption – a major indicator of absence of the integrity factor. He noted that in these countries, the crime rate is high as well as poverty level, while their life expectancy is low. And their justice systems are the most sluggish and unfair or biased in the world.
He also noted; whereas most of these countries are abundantly blessed with natural resources which should have transformed their economic landscape positively, all they have is the reverse, due to lack of the integrity factor in their management and leadership, which manifest in looting of public funds and other abuses of positions of authority.
To make the application of this factor unambiguous, he stated that the integrity factor should be embedded into the national psyche and conscience of every individual in the world, and not just in the affected countries.
He also suggested that ‘Integrity Study’ should be inserted into every school curricular in the whole world. And that the various organs of government vis-à-vis the executive, legislature and the judiciary should be made totally independent of one another so as to serve as real check on each other. He frowned at the system operating in most of these countries where the judiciary depends on the executive for funding and appointment of its key officers, stating that such a scenario does not make for complete independence.
After a critical analysis of this theory, I came to these conclusions:
1. The fact that integrity is an
abstract value makes it difficult to measure and so, one cannot measure how much integrity a leader or entrepreneur possesses.
2. Most of the factors that make a person to be dishonest or lacking in integrity factor are external and sometimes out of his control – thus very influential.
3.That the societies as a whole have a major role to play in sanctioning or upholding this fifth factor.
4. If integrity is inserted as a fifth factor, and adopted by leaders, there will be rapid development, as well as reduction in conflicts all over the world - as integrity questions your behaviors towards your fellow human beings.
Finally, as an economics student, I am of the view that, even though integrity is an abstract value, it should be placed as a fifth factor of production. So that leaders or entrepreneurs who fails in their areas of calling will fall back and look at how much integrity they possesses - That is if they have any at all! &nb
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