Inventions and innovations are the cornerstone of prosperity. To establish the in social memory and reward inventory and innovation, intellectual property rights must be privately owned. It is, however, necessary to eliminate the monopoliztion of patent and reward those who have the original innovative ideas. This includes development patent for those who put others’ idea to work. We update are patent law if we in the Bahamas will link to the new world order. The law should protect a corporation’s trade secrets only as long is reasonably required to perfect their innovation. Patentable idea which are now protected as trade secrets should then be registered and available for all world to use. Trade secrets should no longer be enforceable under the law. Failure to record the innovation would risk someone else’s publishing the information and becoming it’s owner.
Thus owners would be adequately protected and properly compensated for those risky efforts. The inventors, developers, and producers would all be adequately paid for their ideas, capital, labor, and risk. Society would be paid though low-priced products and services.
While technology and the framework to agree on standardization in the Bahamas, this would eliminate the overcharge to the public, simultaneously protecting the investment and risk of the inexhaustible investors and developers.
Computers are part of communication industry, may be approaching developmental maturity. The computer industry ,and technology will permit the development of personal supercomputer and may represent the point at which computers and development mature for the new digital world order the question is the Bahamas recognize we must be cognizant of this new “global village “post COVID -19.
The changes in Law governoring ownership of technology will innovative our economy and reforms Labour force. When an entrepreneur sees such an amazing opportunity will change the Bahamas economy. Their innovative practices are considered to this new economic platform will be a model of banking stability. This process ensures that the distribution of wealth will remain in the country.
Global event, such as COVID -19 pandemic crisis and low prices for oli, it is generally believed that in the financial world, the higher the risk one assumes ,the the return one should expect in exchange, .Important structureal change in the markets for financial services, new commication and information technology, post COVID -19 pandemic, will increases interdisciplinary and interdependent of economices and the interpenetration of national financial systems, have all Fostered a competitive environment that is conducive for international banking activity. Moreover, (OECD) have taken deregulory measure designed to strengthen and stimulate competition in the intermediaton process.
Several approaches i wrote about regarding the Bahamian economy in few articles but is important to note economics evolved over the past. In the 1960 cast some doubt on the significance of the structureal problems that had been identified in previous decade. However, in the past few years the importance of structural rigiditires has been reemphasized by several new phenomenon :the limited ability of economics to bsorb the growing labor force, the worsening of income distribution in the Bahamas. Now with a COVID 19 economy structural factors that requires a more explicit analysis of possibilities for short ‘term adjustment and for longer term changes in Bahamian economic structure.
Unlike the neoclassical assumptions, the stucturalist alternatives for the Bahamas economy do not lead automatically to policy conclusions .To produce such conclusions, they must also be embodied in this purpose,most analyst’s have used one of simple model :either a neoclassical model with particular structural relation added or version of a liner Leontif input -output model, which excludes most froms of substitution. The neoclassical framework minimizes the effect of the specific rigiditires in the economic system while the input ‘output system tends to exaggerate them.
The forgoing selection give credence to Keynes’s appraisal that “The theory of economic dose not furnish a body of settled conclusion immediately applicable to policy “.
The modern financial system thus was not created in advance of Japan’s modern industrialization, but by providing both funds and entrepreneurial talent on a supply -leading basis, contributed significantly to initial spurt. By the mid 1890 ‘s, the emphasis aparerenty move to demand -following in the financing of the textile and other consumer goods industries. Special bank established at government iniative and utilizing government funds. This is good example of the new world order government is innovative to help develop the Bahamian private sector like the Japanese are doing as well as the Chinese.