Industrialization of Bahamian economy

An institutional framework different from the present one clearly necessary for the successful carrying out of industrialization in international depressed areas as a result of COVID -19 pandemic crisis. The first task of industrialization the Bahamas economy is to provide for training and “skilling “ of labour which will transform the Bahamian economy. The automatiism of laissez-faire never worked properly in that field.

There are no mortgages on workers’-an entrepreneur who invests in training workers may lose capital if these workers contract firm. Although not a good investment for private firm . it is the best investment for the Bahamas Government. One of most sacred illustration of industrialization is the that USA. Agriculture is above all reproach. Not only the United States is “bresdbasket of the world”,The Bahamian people’s are somehow incapable of emulating our productive farming method. If there is one thing we are sure about, it’s that without our food from the United States generosity, much of of the rest of the world would starve especially the Bahamas.

For the Bahamas to achieved self -sufficiency that nothing happens until Bahamas economy put in the need economic infrastructures, .we need female education into as key labor -force participation into this new economic environment industrialization our economy they have ability to plan effective. Improving women’s opportunities for education and for modern jobs, will increases the measured benefits of the Bahamian economy.

The relationship of these nontraditional self -interest in Nation building we must think out side of box to an aid rationale that Bahamians is economy back of our economy.

economy systems in the new industrialization post COVID -19,we need our link to agriculture industry my Grandmother late Serena Smith from Hatchet Bay, Eleuthera ,and Thousands of others Bahamian ladies they’re real hero our Great economy .

The strength of our economy strucututalist concept of development as characterized by rigiditire that limit economic adjustment requires an analytical framework in which external policy is more closely linked to domestic resource allocation than does the neoclassical view, which minimize these restrictions on the industrialization of Bahamian economy.

However China is developed and the skills learned by this organized labor force, the scene will change. China is not, like Japan, they will insist on exporting a surplus and our rhetoric of free Trade must allow it. Accumulation of wealth is occurring while the buying power of individuals Bahamian labor has been falling. The Bahamian society its necessary; possible to capitalize while protecting little industry we have labor and industries.

Innovation should be remembered that unlike in an advanced County where technological change is viewed as rather automatic and routinized or as capable of being generated through R&D expenditures according to some rules of cost /benefit analysis in contemporary developing societies technological change cannot either be taken for granted or afforded through R&D allocations. In this situation can Bahamian, economy link to technology.

The role of innovation must therefore be seen as intimately related to the stage in which the developing economy find itself. In other words, role technological change in output and employment generation must be viewed as sensitive to the same discernible phases of growth as the economy moves in transition from open agrarianism to Kuznets ‘modern economic growth.

Domestic entrepreneurs ship in the Bahamas economy’s learning capacity, partly through the importance of people via aid but mainly through the system of protection established by government policies. Another more conscious and quantitatively more important type of innovation being to gather importance during this same second phase of transition. This phenomenon may be Call innovational assimilation ‘-innovation
“On top of “ imported technology in the direction of using relatively more of abundant unskilled labor supply. As the economy shifts from a Touism -based