EZE, Pius C. and Uwakwe, Queendaline C. (2017) OPPORTUNISM. ESUT Journal of Accountancy, 8 (1). pp. 67-73.

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Opportunism is an economic problem, two types of opportunism are explored in this essay, one type is opportunism of the elite and is based on abuse of power hierarchy. Elite opportunism perverts socioeconomic and political institutions through strategic and willful actions and misbehavior of the elite. The word 'corruption' generally refers to this type of opportunism. The second type is opportunism within cooperative relations and based on abuse or betrayal of trust this engenders distrust and discourages cooperation which is the basis of economic progress. Each type of opportunism increases transaction costs and leads to market failures. Societies are underdeveloped precisely because too many of their markets fail. Markets fail mainly because the socioeconomic and political institution are inadequate to discourage opportunism. Incentives get distorted A vicious. cycle ensues in which underdevelopment and other socioeconomic dysfunctions are mutually reinforced.

Item Type: Article
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Faculty of Management and Social Sciences
Depositing User: mrs chioma hannah
Date Deposited: 10 May 2019 14:22
Last Modified: 10 May 2019 14:22
URI: http://eprints.gouni.edu.ng/id/eprint/1504

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