Economic systems collapsing due to human selfishness – Prof Agyeman

Business News of Friday, 19 April 2013

Source: GNA

The former Dean of the Faculty of Sciences at University of Cape Coast (UCC) has noted that despite global efforts and advancement in science and technology, the world has not achieved true economic and social development.

Professor Dominic Kofi Agyeman attributed the problem to the development models and processes which are driven by human selfishness.

Prof. Agyeman made the observation on Thursday when he reviewed a new book entitled “Economic behaviour as if others too had interests,” at the UCC in Cape Coast .

The book which was launched by Dr Peter Aglobitse, Head of the Economics Department of UCC, has 11 chapters with 222 pages and was authored by two Catholic Priests, Reverend Father Raymond Chegedua Tangonyire and Rev Fr Lawrence Kyaligonza Achal, both of the Society of Jesus congregation.

According to him, income disparities continue to widen with few individuals getting richer at the expense of the poor who usually are the majority.

He said the gap between rich and poor countries is not getting narrower with corruption becoming an economic virtue.

“Multinational corporations find easy partners in politicians who also pursue their selfish interests and can therefore be manipulated by these corporations in order to buy raw materials at throw-away prices and sell their finished products at exorbitant prices to the poor consumer,” he noted.

He said the solution to the world’s economic challenges do not lie in the coming up with more abstract economic theories but rather in taming the evil of human selfishness.

Prof. Agyeman called on higher institutions of learning to continue to emphasise on ethical values in students and also involve them in outreach programmes for communities where they would care for the less privileged in the society and as well as the environment.

The former Dean urged parents to endeavour to live exemplary lives by shunning among other vices, selfishness, corruption and greed.

He called on religious leaders to lead exemplary lives by being more accountable for church resources, care for the needy, live moderate lives and endeavour to preach about generosity and accountability.

He described the book as very “thought provoking and elegantly written” and recommended it as a must-read for all graduate students and serious academics of all disciplines who are in pursuit of knowledge.

Rev. Fr. Tangonyire, Assistant Chaplain at UCC and also an Alumnus of the university, said the decision to write the book was informed by factors including the global economic “meltdown in 2008”, which he pointed out was caused by human selfishness.

He mentioned technological advancement as another factor.

Prof. Kofi Awusabo-Asare, Head of the Directorate of Academic Planning and Quality Assurance, UCC, who presided over the event said it is important for universities not only to generate knowledge but also disseminate it through publication.

Comments