Economics professor, former dean of The College of The Bahamas (COB) School of Business and Principal of Sir Arthur Lewis College in St. Lucia Dr. Olivia Saunders said The Bahamas has not been receiving the spillover effects of foreign direct investment (FDI), citing the absence of "technology and knowledge transfers" as a major lack.

Saunders, who had been one of the final two choices for president of COB, has just launched a new thesis on rethinking economic principles called "Tomato Economics". She spoke with Guardian Business in the sidelines of the book launch about the absence of the preferred hallmarks of efficient use of FDI.

"If we have really been getting the benefits of FDIs, seeing that we have been getting it for over a century, we should be able to have all those spillover effects of technology and knowledge transfers," she said.

She added, "We obviously don't have the knowledge transfer because we don't have the proliferation of Bahamians owning and operating industries where we have the FDIs."

Saunders suggested an alternative view as to how Bahamians are benefiting from foreign direct investments.

According to Saunders, FDI should be complementary to what Bahamians want as a people, not Bahamians adjusting themselves to what the investor wants.

"When you have FDIs, as seen in Baha Mar, they have to bring their own people, and then you look at the type of investment that comes in," she said, raising the questions: "Are the vast majority high paying jobs, or are they minimum wage type jobs? Is the purpose of the FDI to afford opportunities to become wealthy, or is it for us to afford opportunities to get jobs?

"Workers or employees seldom become rich in a capitalist society," she said. "In a capital world, it is the owners of capital that become wealthy, so the extent to which we are not owners of capital is the extent to which we are not going to become wealthy in a capitalist society."

Saunders' book, "Tomato Economics", proposes an alternative view of economics, one beginning with the premise that "there is enough", as opposed to the prevailing view of economics as the division and use of scarce resources. She has been asked during her tenure at Sir Arthur Lewis College to guide that institution to four year, degree-granting status.

The Islands of The Bahamas will once again take Miami by storm on March 1, when the Miami Heat plays the Chicago Bulls at the American Airlines Arena in Miami, Florida.

The game being dubbed a Bahamas Theme Night will showcase the Bahamas’ beauty, people, music and culture to more than thousands of spectators and fans.

Throughout the night patrons will experience beautiful vignettes of the Islands of The Bahamas through videos produced by the Bahamas Ministry of Tourism. In addition to this, videos from the Miami Heat dancers’ recent photo and video shoot to Nassau, Paradise Island and Blue Lagoon Island, will also be shown.

To further highlight the culture of The Bahamas and promote the upcoming Bahamas Junkanoo Carnival, the Junkanoo Carnival dancers will in specially choreographed routines, perform alongside the dancers of the Miami Heat. The music of Bahamian entertainer, Stevie S, who performed for the Miami Heat dancers while on location in The Bahamas, will also be featured.

Taking this all in and celebrating courtside with other dignitaries will be some very special children from the Grand Bahama Urban Renewal Program, who will be guests of the Miami Heat Organization.

The Bahamas Theme Night is part of the on-going partnership the Bahamas Ministry of Tourism enjoys with the Miami Heat organization.

About The Islands Of The Bahamas
The Islands Of The Bahamas have a place in the sun for everyone, from Nassau and Paradise Island to Grand Bahama to The Abaco Islands, The Exuma Islands, Harbour Island, Long Island and others. Each island has its own personality and attractions for a variety of vacation styles with some of the world’s best scuba diving, fishing, sailing, boating, as well as, shopping and dining. The destination offers an easily accessible tropical getaway and provides convenience for travelers with preclearance through U.S. customs and immigration, and the Bahamian dollar at par with the U.S. dollar. Do everything or do nothing, just remember It’s Better in The Bahamas. For more information on travel packages, activities and accommodations, call 1-800-Bahamas or visit www.Bahamas.com. Look for The Bahamas on the web on Facebook, Twitter and YouTube.

Protesters and police on the Sir Sidney Poitier Bridge. Photo: Tim Clarke/Tribune staff

Beach workers blocked access to the Sir Sidney Poitier Bridge early this afternoon, in protest at this morning's closure of the Cabbage Beach entrance adjacent to the Riu Paradise Island Hotel.

Beach workers blocked access to the Sir Sidney Poitier Bridge early this afternoon, in protest at this morning's closure of the Cabbage Beach entrance adjacent to the Riu Paradise Island Hotel.

 Police remove car by Tribune242

Police managed to shift some cars which were parked to prevent East Bay Street traffic accessing Paradise Island - but this prompted the protesters to sit down on the road and continue their blockade.

The police were eventually able to get traffic moving over the bridge again.

More news to come . . .

GENERAL SITUATION: Ridge of high pressure will continue to dominate the weather across the islands.   

Monday 29th – Sun and clouds mix with the slight chance of a brief sprinkle or two today, in the area of the Northwest & Central Bahamas and partly cloudy and breezy with the chance of a few passing showers today through tonight. Maximum Temperature 79°F and Minimum Temperature 61°F. Small Craft Caution in effect for the Southeast Bahamas. Winds E 10-15 knots in the Northwest & Central Bahamas and NE-E 15-20 knots in the Southeast Bahamas. Seas 2-4 feet over the ocean in the Northwest & Central Bahamas and 4-6 feet over the ocean for the remainder of the country.

MARCH 2016

Tuesday 1st  – Partly sunny with the slight chance of a stray shower or two during the day; mainly fair at night. Maximum Temperature 78°F and Minimum Temperature 64°F. Winds E-SE 10-15 knots. Seas 2-4 feet over the ocean.

Wednesday 2nd – Partly sunny with an isolated shower or two during the day; partly cloudy with isolated showers at night. Maximum Temperature 79°F and Minimum Temperature 65°F. Winds SE-S at 10 knots over the Northwest Bahamas and E-SE 10-15 knots over the Central & Southeast Bahamas. Seas 1-3 feet over the ocean in the Northwest Bahamas and 2-4 feet over the Central & Southeast Bahamas.

Thursday 3rd – Mostly sunny with a little chance of showers. Maximum Temperature 80°F and Minimum Temperature 67°F. Winds NE at 10 knots. Seas 1-3 feet over the ocean.

Friday 4th – Mostly sunny. Maximum Temperature 82°F and Minimum Temperature 66°F. Winds light and variable at 10 knots. Seas 1-3 feet over the ocean.

Saturday 5th – Mostly sunny  with little chance of brief showers. Maximum Temperature 80°F and Minimum Temperature 63°F. Winds NE at 10 knots. Seas 1-3 feet over the ocean.

Sunday 6th – Mostly sunny with some showers in the Southeast Bahamas. Maximum Temperature 82°F and Minimum Temperature 67°F. Winds NE 10-15 knots. Seas 2-4 feet over the ocean.