{"id":21509,"date":"2018-11-05T18:22:08","date_gmt":"2018-11-05T22:22:08","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=21509"},"modified":"2018-11-05T18:22:10","modified_gmt":"2018-11-05T22:22:10","slug":"commentary-trust-and-the-ccj","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/commentary-trust-and-the-ccj\/","title":{"rendered":"COMMENTARY: Trust and the CCJ"},"content":{"rendered":"
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By Dr. Terrance K Martin<\/p>

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Author Profile<\/p>\n\n\n\n

\u201cDr. Martin was born in St. Kitts\nand Nevis is an assistant professor of finance at Utah Valley University, a\npublished author, and awarding winning researcher. His research hard been cited\nand featured in periodicals, newspaper, magazines, and journals through the\nworld. He is also the founder and principal of Tranquility Financial Planning,\nLLC a registered investment advisory firm.\u201d<\/p>

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For this article,\nlet\u2019s define trust as an expectancy of positive outcomes one may receive\nbased on the expected action of another party in an interaction characterized\nby uncertainty.\nTrust can be further divided into two distinct types: generalized trust and\npersonalized trust. However,  Economists\nview the primary difference between these two types of trust as the difference\nbetween poorly-informed prior perceptions and well established posterior\nbeliefs. Trust is neither a behavior or a choice, rather trust is a\npsychological condition which is integral to both micro and macroeconomic\nstudies.  <\/p>

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You may\nbe wondering why an article on trust and the CCJ may take an economic\nperspective, especially when the arguments for or against appear to be largely\npolitical and social. In short, the CCJ as a potential final court, will make\ndecisions that may have both micro and macro-economic implications, for\ngenerations to come. As predominantly black societies, we should have positive\nviews about our people and our institutions.  So why are such large sections of the\npopulation untrusting of the CCJ or a government\u2019s desire to move toward the\nCCJ as the final appellate court. The answer may not be this simple, but a\ncontributing factor may be the socio-economic differences that exist within our\ncountries. The more aligned citizens are in terms of wealth and income, the\nmore trusting those citizens are likely to be and the more open to receiving\nnew information citizen will become. Sadly, when the income and wealth\ndisparity is wide what we observe is a prevalence of information asymmetry and\na lack of trust. <\/p>\n\n\n\n

Trust is\na moderating factor in our decision-making and helps to management responses to\nthe innate uncertainty of any sort of exchange relationship, such as deciding\nto get married, taking out a loan, or pressing a legal issue all the way to the\nfinal court. As it relates to the CCJ, the issue at hand appears to be one of\npersonalized trust and not generalized trust. If we were to look inwardly, we\nall have the ability to trust and many cases have been force to trust whether\nwe like it our not. Many of us have bank accounts and never step foot in the\nbank, why because you trust that your money is still there. Another example, we\nhire professionals such as lawyers, doctors, because we trust that the benefit\nof going to the lawyer or the doctor will outweigh the cost. Yet another\nexample, every 4-5 years, we go to the polls and vote for a group of men and\nwomen because we have TRUST in their ability to deliver on their agenda. <\/p>

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As a\nregion, we have come a long way since the days of colonialism. We have regional\ninstitutions that are world renowned, we have scholars of the highest caliber\nregionally and internationally. We have triumphed and found ways to succeed\neven when being blatantly taking advantage of by some of the more Developed\ncountries on this planet. So why aren\u2019t we as proud of what we have built, for\nus by us, as we are for institutions that were put in place to manage us rather\nthan empower us.<\/p>\n\n\n\n

So why not trust the CCJ,\nwhy not vote yes? The arguments against seem to be focused on the uncertainty,\nbut if we recall the definition of trust, that uncertainty may often lead to\npositive outcomes. <\/p>

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Our regional\nleaders, understood the prevalence of mistrust that exist in our region and as\nsuch put in place several instruments to enhance the personalized trust that we\nhave in the CCJ. <\/p>

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