Tuesday, September 22, 2015
Algebra and the CIP
Dr. Lester Simon-Hazlewood
Let me confess I was the student in first form at the Antigua Grammar School who asked the math teacher if I could do mathematics without algebra. I will also say, thanks to the best male math teacher in the world, Mr. Bennett of the Antigua Grammar School, and thanks to the best female math teacher in the world, Miss James of the Princess Margret School, a group of us ended up realizing that mathematics, the queen of the sciences, was the most beautiful, logical and rewarding subject in school, even more so than (some of) the girls at The Antigua Girls High School.
So imagine my consternation and starry constellation when I read an article in The Daily Observer about the Citizenship by Investment Programme (CIP). Eric Major of Global Managing Partners of Henley & Partners noted, inter alia, that “What I would like to see also is a double digit refusal rate from the CIU” (Citizenship by Investment Unit).
The responses from three learned men were that they disagreed with the need for a double digit rejection rate. Can it be that they preferred a single digit rejection rate and I am making an algebraic storm in a teacup, or a mathematical hurricane in a saucepan?
One of the wise men said, “If it is the people qualify, we have set out certain requirements for eligibility…” Another wise man stated, “What we should be concerned about is not the number of rejections, but whether or not the independent overseas providers are in fact doing the due diligence to the best of their abilities”. The third wise man added, “You’d wish to have all applicants pass the test”.
Simple, algebraic, linear equations should inform us that the rejection rate is on one side of the equation and that the other side of the equation comprises the composite of requirements for eligibility, independent overseas providers doing due diligence, and the statistical improbability of having all applicants pass the test.
The CIP program must be attended by algebraic commonsense, lest CIP will not mean Citizenship by Investment Programme, but instead, Come In Please.