August 29, 2013

Synchronized View

In a book written by Todaro and Smith (2006), they discussed an essay entitled "Punctuality: A cultural trait as equilibrium", written by Kaushik Basu and Jorgen Weibull. According to the authors, Basu and Weibull, punctuality is "simply an equilibrium response of individual to what they expect others to do".

The estimated lost in GDP of Ecuador brought by chronic tardiness is 4% to 10%. Due to the negative effect of tardiness in the economy, the government and businesses joined forces to create a campaign that encourages people to be punctual.

The above scenario was pushed due to negative economic consequence of tardiness. The same campaign can be done for the negative consequence of corruption (which decreases GDP of the Philippines more than ten percent!). If government, businesses, and the common people will join force to combat the habit of corruption then social change will be possible.

"Join force means being one against corruption." – Philippine Economist

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