More on the proposed Economic Summit for The Bahamas

by Rick Lowe

As mentioned here… Lynden Nairn is attempting to pull off an economic summit in an effort to find ways to diversify the Bahamas economy.

Here's a brief outline from Mr. Nairn:

Essentially… the Summit is about short term (now -2 years) job creation. We are not proposing to get bogged down in economic theory, as good as it is, but instead will focus on very pragmatic things that we can do to diversify our economy.

We hope to come away with clear, actionable and measurable national goals with specific strategies for attaining the same. I suspect that we will examine opportunities in agriculture (hydroponics mainly); animal husbandry; fishing (fish farming, managing marine resources for optimum result, deep sea fishing); energy (energy efficiency, LNG, solar industry); and Family Island tourism to name a few areas to be covered.

Very importantly, I believe we will lay out very clearly what individuals might do to lessen the effects of the recession.

These are all good ideas if they are going to be pursued by the private sector. If this becomes a moaning session for Government to do something it will be a waste of time and energy.

As Lawrence Reed pointed out here… in 2001 when discussing whether or not the president runs the US economy:

You often hear them saying, for example, "My administration created 20 million new jobs in the last seven years."  Presidents don't create jobs; real people taking risks and investing their own money are the ones who actually do that…

Let's wish Mr. Nairn luck.

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