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Need For Emily

March 27, 2017

Bangladesh Bank once again found itself at the heart of controversy. Two separate incidents— e-mail hacking and a mysterious fire at the office where the computer was located—further tarnished the images of Bangladesh Bank that is still reeling from previous year’s $81 million hacking.

This piece is not about the Bangladesh Bank scam or to find out the culprits. Rather it intends to underscore the importance of foreign workers in education and financial sectors.

To grasp the point better I want to make, let us consider that there are three states A, B, and C where the first two states represent rules under two different political regimes and the last one indicates an absence of democratic government. And there are three persons: 1, 2 and 3 ( Emily). Person 1 and 2 are politically biased or deemed as political supporter. And, person 3, whom we call “Emily”, is a foreign worker.

For the workers with political bias, it is extremely difficult to work under a different regime. Moreover, they do not give their cent percent at their workplace under the tenure of a different political regime or are laid off for an indefinite period by a hostile govt.

They also face various kinds of harassment, harsh treatment, sniping, workplace politics etc. For them, the utility they enjoy under a non-favorable regime is different from that they enjoy under a favorable regime. For this reason, person 1 and 2 have higher utility functions when their preferred parties form government.

Just have a look at the preference relations of the 3 persons. For person 1, the preference relation looks like this: AR1B and BR1C ; this means person 1 prefers A to B and prefers B to C since U1(A) ≥ U1(B) and U1(B) ≥ U1(C). For person 2 , it is BR2A and AR2C , this means person 2 prefers state B to state A and prefers state A to state C since U2(B) ≥ U2(A) and U2(A) ≥ U2(C).

However, being a foreign citizen our Emily is indifferent among the states as his utilities remain same in all the three states [U3(A) ~U3(B) ,U3(B) ~U3(C) and U3(A) ~U3(C). So, A~B , B~C and A~C.] As he is a foreign citizen he faces little coercion or harassment at the workplace.

Note that person 1 enjoys highest level of utility when his favorable regime is in power, state A. meanwhile person 2 draws highest level of utility during state B when its preferred regime forms govt.

State C, a period marks absence of democracy, is undesired by both 1 and 2.

Since person 1 and 2 have lower level of utility during non-preferable states, both indulge in corruption and unlawful means to fill their pockets in a bid to offset the loss in utilities during barren periods.

Person 3 does not need to join the club of corrupts as he gets the same level of utility during all the three states. He can make prudent and bold decisions at decision-making level as he is less susceptible to coercion and harassment.

For this reason, if we have foreign nationals working at key positions of the financial sector, the institutions may not invest in bad/politically motivated projects.

Despite the fact that our universities produce scores of business graduates we should not deprive ourselves of the contribution of foreign nationals.

Look at the state of businesses of foreign banks in Bangladesh. Except the state-owned foreign banks none of them involve in any kind of controversies. Though some made losses in recent years, most of them have sound balance sheets.

Moreover, they strictly follow the work codebook, so likelihood of losses due to negligence is less.

Similarly, a good number of foreign teachers at our educational institutes will not only ward off political influence, it will also help us to build a nation that will live up to the expectations of the country.

One of the biggest advantage of recruiting foreign workers is that they cannot fall prey to the lure and coercive tactics of regimented groups and dogmatic ideologies.

This in the end will keep our campus and financial institution safe from anarchist politics and extremism.

Corrosive nature of our notorious political culture is manifested in the corruption-stricken condition of financial and education sectors.

Recruitment of foreign workers may at least slow down the rate of corrosion.

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From → Analysis

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