Dinosaurs and Entrepreneurs

First Published: 2000-02-19

The FNM appears to have – or at least is behaving as though it has, a political problem that can be resolved by regulating the employers of the country.

Due to various factors – a significant one of which is the "confidence" factor, the economy has blossomed after years of stagnation under the PLP. There are some economic problems, but they are self-resolving and if resolution is left to the market the best of an imperfect world is possible.

The Labour Bill is not a solution for political problems. Rather it complicates exchange, contributes to uncertainty and resulting economic decline makes the political problems even worse. Inevitably both political and economic problems are needlessly compounded by state interference in the labour market.

Instead of trying to satisfy demands of particular interests that place obligations on others to fulfill, the visionary leader encourages participation in the Global economy. The lengthy and incredibly costly privatization of BaTelCo is a case study of impaired vision. The firing of excess numbers of persons is politically difficult, however while government dithers with costly and inefficient utilities, the rest of the world is "riding the light" of Global communications. The Bahamian economy is paying a needless price for political expediency.

The opportunities for participation in the global markets are limitless. Regrettably all political leaders of the past 35 years have introduced and supported policies that prevent or regulate Bahamian participation. Exchange control is the most obvious and will remain so long as the budgets are unbalanced and the debt continues to grow. Less government, freer markets, protection of property and swift justice for the criminals is the formula for economic growth and improved standards of living; not perpetuation of the "nanny state" in harmful labour legislation.

This is the age of the entrepreneur. The dinosaur mentality of both political parties is already extinct. Will someone please tell the politicians?

Help support The Nassau Institute

Leave a Reply

Your email address will not be published. Required fields are marked *