In different parts of the world, the importance of good governance in driving economic transformation and social responsibility is emphasized. Okechukwu Enelamah highlights the role of corporate governance in Nigeria's economic diversification and the need for strong institutions in both the private and public sectors. Tapera Mushoriwa urges banks in Zimbabwe to adapt to economic challenges and adjust their strategies to navigate changing macroeconomic conditions. Savenaca Narube criticizes Fiji's growth reset package and calls for a clear economic roadmap focused on resource-based sectors and small businesses. Governor Nandalal Weerasinghe highlights the provisions for independence in Sri Lanka's central bank law but emphasizes the need for qualified individuals with integrity for effective implementation. Dr. Sharmini Coorey commends the Central Bank of Sri Lanka's efforts in stabilizing the economy and emphasizes the importance of good governance in achieving price stability and prosperity. Rajeshwar Singh emphasizes the role of accountants in maintaining financial transparency and accountability. In India, the Corporate Social Responsibility (CSR) policy based on Gandhian principles has made CSR mandatory for eligible companies. The report suggests increasing the allocation of CSR funds, encouraging companies to share funds with NGOs, and addressing the conflict between companies and communities. Good governance and social responsibility are crucial for driving economic transformation and promoting corporate-community connectivity and industrial peace.
Government is often associated with negative aspects like executions, fines, and wars, but there are many useful things it can do. It can efficiently provide services like water and sewer, regulate complex industries like airline safety and food and drug safety, ensure access to education for all children, and finance research and development of technologies. The U.S. government has historically sponsored basic research leading to technologies like radar, computers, and the internet, but it is now cutting back on research and development. Without a strong private sector, a strong government alone cannot fully develop the potential of new technologies. If the U.S. does not prioritize technological progress, countries like China, with a strong private sector and government, may surpass it. [a1f587a2]
Techno-Progressive Governance is a concept that recognizes the exponential growth of technology and the need for governments to adapt to the rapid pace of change. It emphasizes the importance of proactive engagement with technology, shaping policies that foster innovation while ensuring equitable access and ethical considerations. The rise of powerful technology companies, known as Digital Titans, presents challenges to traditional government functions and regulatory frameworks. These companies operate globally, often transcending geographic and regulatory boundaries. The influence and control they have over data raise concerns about privacy, data security, and democratic processes. Techno-Progressivism advocates for a balance between technological progress and societal well-being, promoting inclusive policies, ethical innovation, and responsible regulation. It calls for governments to evolve from mere regulators to facilitators and enablers of technological progress. This evolution involves developing new policies, collaborating with stakeholders, fostering innovation, and establishing international cooperation. Governments must also adapt to the digital realm, considering virtual environments like the Metaverse and addressing regulatory challenges in areas such as virtual property rights, digital identity, and cybersecurity. The path to techno-progressive governance requires a delicate balance between fostering innovation and ensuring public welfare, with the potential benefits of a technologically advanced and inclusive future being immense and far-reaching. [fc5efebc]