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modern economic practices Individual/Collective principle
Transcript of modern economic practices Individual/Collective principle
Modern Economic Practices:
Individual Principles that are key to this nations national economic policies are:
In the Bahamas they have an open market system.
The banks all have finical freedom
the Bahamas have a free market system
The government doesn't tax the people
There is a regulatory efficiency generating
business formation and productivity growth.
and dismissal regulations are
with little influence of unions.
The Bahamas have one of the
on the banks with only 0.05% which is why people and business owners want to move in and set up businesses therefore spending money for the self-interest.
Individuals and corporations
own private property
in the Bahamas.
Government generates some of its income by taxing some of the private property even though individuals own it.
Even though people can own private property in the Bahamas if the government needed that land for the common good, it would be easier to take it in the Bahamas than in Canada. With the Bahamas being at 70% and Canada at 90%.
Arguments supporting why this individual policies works so well:
The economic system setup in the Bahamas has allowed this island nation to remain
one of the most prosperous
in the Caribbian. Many interactions in banks and corporations have set up business in the Bahamas because of their highly competitive tax regimes, protection of private property, and their enforcement on the rule of law this system has lead to
higher employment and greater finical freedom
when approved to many other countries in this region of the world.
Examples are there are
private and public hospitals
and private and public
Arguments against this nations individuals economic policies:
when the people of the nation
can not provide
for their selves or family then things turn
low government involvement
we start to see an
increase in corporations.