Sir Adam Smith, in his famous book, “An Inquiry into the nature and causes of wealth of a Nation” discussed a topic that dragged the attention of some prominent scholars. The topic is titled, “Water-Diamond-Paradox”.
As we all know, without water one cannot live, even if there is diamond; but today, diamond is more valuable than water, despite that it is unessential in human life. With that, Smith concluded that “Value in Use” and “Value in Exchange” were irrationally separated.
Adam Smith is a proponent of labour theory of value, a theory which states that, “the price of a good reflected the amount of labor and resources required to bring it to market.” Therefore, diamond requires huge resource before bringing it to market, unlike water that requires less resource before reaching the society. Even though, humans can live with or without diamond, but they can’t live without water.
Before the invention of paper money, diamond was the means of transaction in the olden days, because of it is scarcity and value.
Security is defined as the state of being free from danger. This means that, there’s security when one has no iota of fear of losing his life, right and property in the society he lives.
Security provides peace of mind, job opportunities and encourage investors; therefore, every society that lost security has lost those three things mentioned.
Achieving food security is one of the main objectives of the present administration of President Buhari and Northern Nigeria’s main pride is farming. But today, many farmers in some vast sections of the north are afraid of visiting their farm lands, for the fear of losing their lives. How then can food security be achieved?
Before the 2015 general elections, North Eastern part of Nigeria wishes nothing less than peace; that was what gave northerners the guts to come out to vote out the then administration of President Jonathan, with an almost certainty of hope that their security problems could be solved, and glory be to God, it was reduced to minimal level for some period of time. But as time went on, the security situation deteriorated to the extent that militants are openly giving the inhabitants of some villages the option of paying taxes if they truly want to engage their farmlands in their own “Villages”! How can food security be achieved in such a situation?
Recently, in Zabarmari village in Borno State over 60 people were slaughtered like animals, for no other reasons but for not paying BH levies and living under the Nigerian government. Yet, the Commander -in-Chief only expressed “grief” over the unfortunate incidence. But during the largely Southern Nigeria’s led #ENDSARS violent protests, he was quick to address the nation and expressed his sadness over a viral “audio massacre”. Does this mean that northern lives are not too important to him?
Throughout his campaigns from 2003-2015, security, corruption and agriculture were his major theme. But agriculture is now decaying, by implication, due to lack of security that is majorly caused by the corruption he promised to fight! The north has all the security personnel – the Chief of Army Staff, Chief of Air staff, IGP, Minister of Defense, DG, DSS and NIA, and above all, the President!
A region with combination of such top security captains couldn’t stop the blood shedding in their region; how do we expect them to protect the whole country from external attack?
How do we expect the north to develop economically in the current deteriorating security situation? I wish Sir Adam Smith is alive today, I would’ve told him that in his discussion of water-diamond- paradox in a peaceful society, diamond is more valuable than water. But to the likes of Zamfara, Birnin Gwari, Villages of Borno and other places ravaged by persistent insecurity in Northern Nigeria; water is more valuable than diamond.