Showing posts with label The Bahamian Dream. Show all posts

Thursday, January 26, 2012

If we are to empower Bahamians in the 21st century Bahamas, creating jobs alone from foreign direct investments and empowering a handful of Bahamians is not the course of action to be taken... ...Bahamians need a government in place that is sensitive to the needs of its people at large... ...Sir Clifford Darling, Sir Randol Fawkes, Sir Milo Butler, Sir Lynden Pindling and Arthur D. Hanna, among others are men who were radicals of their time, understood the needs of the people and fought for majority rule

The Bahamian Dream II

By Arinthia S. Komolafe

The hope and expectation of every parent is to produce offspring who attain higher levels of success than they did. The genuine desire of each generation should be one that is built around the attainment of higher heights and charting of new territories by successive generations.

The Bahamian Dream was born out of dissatisfaction with a substandard life and discomfort with the status quo. It is one of deep aspiration, a cherished desire, unique ambition and daring vision of a Bahamas in which the average Bahamian can be all that he/she hopes to be. It is a dream embedded in the minds of our forefathers and defined by the achievement of feats unimaginable in that era, but conceived in the hearts of our founding fathers. This dream peaks at the juncture where Bahamians hold their destinies in their own hands and their strength lies in their unity, fortitude and beliefs.

It has afforded Bahamians like myself, born in Farm Road to parents who formed part of the working class at the time, educated in Bain and Grants Town at the Willard Patton Primary and C.R. Walker Secondary schools with opportunities to receive tertiary level education, command decent salaries and become homeowners. The pursuit of this dream has also encouraged some of us to take risks and become entrepreneurs in spite of the challenges associated with such endeavours – a sacrifice made willingly to provide a better way of life for our children and generations yet unborn. However, as impressive as this may sound, reality dictates that far too many Bahamians, particularly of my generation, have yet to claim the same testimony.

It appears that the Bahamian Dream is met by roadblocks due to an inability to foster ownership of the economy by a wide cross-sector of Bahamians. This is ‘the tragedy of the shrinking middle-class and select upper class’ that characterizes the 21st century Bahamas and threatens the very essence and crux of the dream. There is the accepted fact that there are more educated Bahamians up to post-graduate levels today than there were before, as well as more Bahamian entrepreneurs. In addition, we acknowledge that The Bahamas has the third highest per capita income in the Western Hemisphere and it can be argued that we enjoy a decent standard of living as a result. However, one may ask the following questions: Why aren’t we satisfied? What more do we want? The reality is that as a people collectively, we are yet to lay hold of the entire dream. There is still much more to be achieved, more grounds to cover and we owe it to ourselves and future generations not to stop until we have done so. The dream encourages us not to become complacent or lackadaisical, but to continue pressing until we have witnessed widespread prosperity. To many this is a utopian outlook and nearly impossible, but I belong to the more optimistic crew of believers who dare to believe that it is possible and at the least, we should attempt to make it possible.

Banks and the government

The global economic crisis is real and has impacted us severely. Atlantis, the country’s largest private employer which has created thousands of jobs for Bahamians and effectively improved the standard of living and quality of life for many, has been plagued with rumors of possible defaults on their obligations which can place thousands of jobs at risk. There is a rising concern that the inability to bring this matter to a quick resolve can have a negative impact on an already depressed Bahamian economy. The inability of successive governments to diversify the economy and reduce our vulnerability and dependency on employment by foreign employers has contributed to the catastrophic position that we find ourselves in today. A robust small-medium sized business sector would have safeguarded to some extent against such possible misfortunes. We are still waiting on the government to pass legislation concerning SMEs and it is unclear why such an important piece of legislation has not been enacted to date. In the same manner that we passed vital legislation to save the turtles and the sharks almost overnight to preserve our marine resources, the passage of legislation to make Bahamians more self-sufficient should have been met with equivalent and perhaps more priority.

It is challenging for today’s Bahamians to become entrepreneurs being faced with start-up costs that many of them are unable to meet. There are insufficient venture capital funds to provide access to seed money and there are limited alternative sources of funding. Bahamians complain regularly that financial institutions won’t lend them money to start a business, but instead are quick to provide funds to finance the purchase of vehicles, vacations, grocery, furniture, etc. If this is in fact true and the facts suggest that it is, why do they continue to enjoy our patronage? After all, they have made millions and billions of dollars which some of them have expatriated back to their home countries or issued in dividends. We must come together to demand more from these institutions and in the mean time patronize the financial institutions, banks, co-operatives and credit unions that will assist us in achieving the Bahamian Dream and provide more attractive rates and offers based upon the credit risk posed to each customer. The power rests with the people and this power should be activated to make this dream a reality.

Empowering Bahamians

In recent times, the government has made several moves that will delay the economic advancement of the average Bahamian and defer the attainment of the Bahamian Dream. In addition to the questionable levels of borrowing, the country’s fiscal position forced the government to carry out what was viewed by many as a fire sale of the Bahamas Telecommunications Company (BTC). The firm was sold to foreigners reportedly under value and the bidding process appears to have been tainted. A Bureau of Public Enterprise should have been formed to oversee the privatization process to ensure transparency in the bidding process and lack of political interference by politicians who are primarily concerned about the electorate’s and/or special interests’ concerns. It is worth considering the approach adopted by the U.K. in privatizing its equivalent of BTC about three decades ago. In 1981, then British Prime Minister Margaret Thatcher’s government announced that her government would be privatizing British Telecommunications (BT), which held the monopoly on telecommunication and informed the public of a program to phase in liberalization of the market prior to the sale. The irony of this transaction from a Bahamian perspective was that Cable & Wireless, who bought BTC, was the first firm to offer alternative telephone service and receive an operating license through their subsidiary Mercury Communications in this newly liberalized market. In 1984, legislation was passed empowering the state to sell BT. In the same year, up to 51 percent of BT shares were sold to “British” private investors. Legislation was also enacted that enabled BT to be in a position to succeed in the midst of an already established local competition by allowing BT to form joint ventures, expand globally and manufacture its own apparatus. The remaining government shares were eventually sold in 1991 and 1993.

What Thatcher effectively did was expand the middle class and create wealth for hundreds of thousands of Britons through liberalization and eventual privatization. Contrasting the U.K.’s approach to the government’s modus operandi in choosing to sell to foreigners, one wonders whether the government is a proponent of the Bahamian Dream or whether it has a vision for its people. It is little wonder that we are faced today with a tragedy of the shrinking middle class and select upper class.

If we are to empower Bahamians in the 21st century Bahamas, creating jobs alone from foreign direct investments and empowering a handful of Bahamians is not the course of action to be taken. Bahamians need a government in place that is sensitive to the needs of its people at large. Sir Clifford Darling, Sir Randol Fawkes, Sir Milo Butler, Sir Lynden Pindling and Arthur D. Hanna, among others are men who were radicals of their time, understood the needs of the people and fought for majority rule. They denied themselves and swallowed their pride to meet those needs. That is why, more than half a century later, they are still loved by many Bahamians. We cannot allow our progress in advancing economically to be retarded.

This generation and future generations will not be satisfied with just a job in the civil service, hotels or banks, which are not owned by Bahamians. An economy dominated by job seekers, as opposed to job creators, will not experience the rebuilding or expansion of the middle class. The lack of ownership within The Bahamas’ economy by a broad spectrum of Bahamians fosters job insecurity and impedes the chance for a better way of life thereby choking the Bahamian Dream.

•Arinthia S.Komolafe is an attorney-at-law. Comments can be directed to: arinthia.komolafe@Komolafelaw.com

Jan 26, 2012

thenassauguardian

The Bahamian Dream pt.1

Monday, January 23, 2012

Majority rule was a Bahamian victory... It tells the story of a group of people who fought in the Quiet Revolution to bring about social, economic and political change in The Bahamas... It promised the Bahamian people gifts of hope and prosperity for all ...and not just a small few...

Majority Rule and The Bahamian Dream in The Bahamas

Today, 45 years later, it appears as though we are losing sight of the Bahamian Dream and regressing rather than progressing...

The Bahamian Dream pt.1

By Arinthia S.Komolafe

The issue surrounding majority rule is for Bahamians the ‘elephant in the room’. It’s the issue that is ignored and goes unaddressed because it is both socially and politically incorrect to do so due to its close ties to the history of race and discrimination in our country.

It is unfortunate to see such a major achievement in our country won by men and women of that day who believed that successive generations of Bahamians deserved a better life than what they were experiencing. The issue has become so politicized that it appears supporters of the Free National Movement (FNM) have little emotion for the event and the supporters of the Progressive Liberal Party (PLP) have claimed the event as a personal victory.

Politics has taken hold of our nation in such a divisive way that everything is politicized whether it relates to the attainment of a job in the civil service, appointments to government boards, and the bench. This cancerous philosophy has affected us right down to the color of the garment that we wear. It is an unwritten rule that supporters of the FNM should not wear yellow/gold outfits. The reverse is true if one supports the PLP – it is almost a taboo to wear red. More recently, an individual’s allegiance and loyalty to his party is now being questioned if he wears the color green, the banner color of the newly formed Democratic National Alliance. Where did we lose our way and when did we seek to ignore matters of national importance and focus on such trivial things that add little value to our lives?

A victory for all

Majority rule was a Bahamian victory. It tells the story of a group of people that fought in the Quiet Revolution to bring about social, economic and political change. It promised the Bahamian people gifts of hope and prosperity for all and not just a small few. It is my view that God ordained it that its fruition would depend upon the cooperation of the former United Bahamian Party (UBP) member turned independent, Sir Alvin Braynen, and the Labour Party leader Sir Randol Fawkes. It was indicative of the fact that The Bahamas is for Bahamians of all backgrounds, black or white, rich or poor, liberal or conservative and those who believe in workers’ rights. It was the culmination of struggles that started with the abolition of slavery in our islands, and other events such as the Burma Road Riots, the General Strike, one man one vote, the women’s and universal suffrage movements and Black Tuesday. In those times there was no PLP or FNM, but a fight toward equality and opportunity for all and the chance for democracy to reign in our nation. It is worth noting that the founders and the supporters of the Free PLP, the dissident group who left the PLP in the early 1970s, were all present and participated in this common struggle. In the eyes of some, they were seen as traitors for later joining forces with the very group of people who oppressed the masses for so long. The merger of the Free PLP and the UBP would give birth to what is today the FNM. Nevertheless, it begs the question whether this merger has prohibited the recognition of majority rule by the FNM on a national level? Further, to many Bahamians, majority rule has been touted as a sole PLP victory. While it is accepted that the PLP played a major role in bringing majority rule to fruition, the continuous annual private celebration of the event on PLP territory is frowned upon and will not accomplish much to bring a non-partisan national awareness of this historical achievement of our nation. Why can’t the leaders of the PLP, FNM and the trade unions join forces annually to mark this event? Such divisions and lack of unity have contributed to the inability of the full Bahamian history to be passed down to successive generations of Bahamians.

It is a grave error on the part of the leaders of today to fail to make a conscious effort to celebrate this achievement on a national level. Majority rule holds a place in history similar to Emancipation Day, Labour Day and Independence – accomplishments that played major roles in the prosperity that we experience in The Bahamas today. More importantly, majority rule gave birth to the ‘Bahamian Dream’. It was a clear demonstration to Bahamians of all races, ethnicities and backgrounds that we possess the ability to govern ourselves and that we could be whatever we aspired to be. It was the stepping stone that brought about independence from British colonial rule a short six years later on the July 10, 1973. After delivering on the promise of political freedom, it paved the way for economic freedom. In this sense, faced with a largely illiterate population, the then PLP administration placed significant importance on educating the masses. They understood that education was the currency that would advance a people to a better way of life. Hence, education was very essential to the attainment of the Bahamian Dream. They embarked upon a task to expand the learning institutions that were available. They built more primary and secondary schools and built the College of The Bahamas as well as technical and vocational institutions of higher learning. They also made provisions for scholarships to be provided to attend local and international institutions of higher learning. It was clear to all and sundry that education would lead to higher paying jobs that would enable many to own a home, save for retirement and educate their own children.

Further, that administration instituted a safety net for Bahamians through the implementation of National Insurance, expanded healthcare services and commenced a low-cost housing program that afforded thousands of Bahamians access to home ownership, hence the creation and expansion of the middle class.

Where we are

Today, 45 years later, it appears as though we are losing sight of the Bahamian Dream and regressing rather than progressing. We are witnessing in unprecedented numbers Bahamians losing their jobs, homes and properties while many cannot afford the basic necessities of life and access to higher education. We have yet to bring about advanced economic freedom to our people on a large scale. We are not in full control of our economic destinies with ownership within our main sectors of tourism and financial services, for the most part, resting in the hands of foreigners. Although their presence has generated jobs for thousands of Bahamians and improved their standards of living (and for this we are grateful), jobs alone will not be sustainable for the 21st century Bahamas, but instead the added ability of Bahamians to create jobs themselves.

Bahamians do not want a hand-out, but rather a hand-up and The Bahamas must not be allowed to evolve into a welfare state. The role of the government is to create an environment that is conducive for its people to prosper, and in turn we must be committed to work toward the desired economic freedom.

Furthermore, we must place priority on educating our people once again; otherwise we will not be able to compete in our own country much less the world. We must transfer ownership to Bahamians and the environment must be created for small and medium-sized businesses to prosper by way of appropriate fiscal and monetary policies, reduction in the cost of energy and improving access to capital for growth and expansion. We must expand our industries to provide job and entrepreneurial opportunities for Bahamians outside of tourism and financial services, which are heavily dependent upon the stability and prosperity of the U.S., E.U. and Canadian economies, for the most part. A failure to do so could result in a brain drain and an exodus of some of our nation’s brightest minds.

We must make every effort to reduce the gap between the ‘haves’ and ‘have nots’ and a revised tax code to bring relief to the poor, working and middle class is imminent. We are witnessing a threat to our nation’s stability through the increased level of crime that is spiraling out of control. Arguably, this has a direct correlation with the economic challenges that we face as a nation today. It is imperative to state that we all have a role to play in building a better Bahamas and increasing the possibility of laying hold of the Bahamian Dream.

Parents must take their parenting and nurturing responsibilities more seriously and revert back to the values that our nation was built upon by distinguishing between right and wrong. Churches must be more aggressive in spreading the message of Christ above any other message and branch out into the communities where people that are in need of spiritual fulfilment reside. Likewise, teachers, civic leaders and their organizations must also continue to provide checks and balances to the work that the family, government and church are undertaking. The old African adage is true that “it takes a village to raise a child”, and without all hands on deck, the Bahamian dream may be reduced to just a dream with no hope of becoming a reality for many.