“plus ça change, plus c’est la même chose”
“Turning and turning in the widening gyre
The falcon cannot hear the falconer;
Things fall apart; the center cannot hold;
Mere anarchy is loosed upon the world.” William Butler Yeats’s poem “The Second Coming,”
If yuh nah pay attention yuh probably wouldn’t notice seh Christine Lagard di IMF lady, just come a Jamaica come tell we fi mek sure we dollar devalue/”right value” ( reach $500 to 1 or more). She and the IMF seh weh we did a do before caan work so it need fi find it right value.
The Government of Jamaica has announced the visit of Managing Director of the International Monetary Fund (IMF), Ms. Christine Lagarde, and her delegation to Jamaica.
On Friday, June 27, 2014, Ms. Lagarde will meet with Prime Minister, the Most Hon. Portia Simpson-Miller; Minister of Finance and Planning, Dr. the Hon. Peter Phillips and other senior officials in the Government.
The Managing Director will also participate in a number of outreach activities before departing the island on Saturday, June 28, 2014.
Ms. Lagarde’s visit underscores the Fund’s support for Jamaica’s Economic Reform Programme (ERP), and signals its commitment to assisting the wider Caribbean.
The most recent IMF review mission to Jamaica from May 5 to 16 concluded that the country’s overall economic performance under the programme remains strong; economic outlook is improving, crisis risks have receded, growth has picked up, net exports are stronger, inflation has been brought under control, and reserves are starting to recover.
ON Monday, it was announced that IMF Managing Christine Lagarde planned to visit Jamaica on June 27th to meet with the Prime Minister and the Minister of Finance. The last time an IMF Managing Director visited Jamaica was in July 2010 for a meeting with Caricom, and before that in December 2008, when the same Dominique Strauss Kahn gave the address at the PSOJ’s Christmas luncheon just as the global financial crisis was accelerating.
The visit by IMF Managing Director Christine Lagarde, in the words of the Ministry of Finance press release “underscores the Fund’s support for Jamaica’s Economic Reform Programme, and signals its commitment to assisting the wider Caribbean”. (JIS)
She did deh a UWI a gi one public lecture and Reverend Garnet Roper mussi ask har if a biggah problem she a guh get we innah when the US$ cost so much fi buy? she and some other people seh all we need fi do is buy more local tings. who fi buy more local tings? poor people? or di people with the caviar taste?
Look from when we a hear that though, but dat nah work because the things we want and need nuh local, the car, the car tire, the phone, the phone battery, the computa, the tablet, the machine weh mek the toilet paper, the printa fi print things, we clothes, the cloth fi we clothes, the paper weh fi print pon. Nuff thing innah Jamaica nuh mek local. In the name a free trade and consuma choice, betta price, nuff a dem experiment fi mek di technology fi mek dem ting yah stop and we import dem instead. someting name globalization pick up speed pon we. Plus we live so close to America we is like American and we have foreign taste. How we a guh manage? Weh Christine and di oda people dem come fi a talk bout that yah now. Dem tek people fi idiot?
If yuh nah pay attention yuh probably nuh understand seh weh we deh right yah now a weh we suppose to deh. Maybe somebody need fi remind we seh surviving a vicious capitalist neo-liberal globalized everything world as an i-land is not a simple ting.
We suppose to borrow too much and we suppose to export likkle and we money nuh suppose to have value. Some people from the University did a tell we from long time what a gwaan a Jamaica and all a di oda place dem like Jamaica. Dem coulda see it from a different perspective. Dem did a figure we coulda free. But mi notice mi nuh hear nothing bout dem when Christine come or even before when we a talk economics. Me a wonda why Economist like Damien King or Andre Haughton nah tell we seh the Plantation economy a something we we innah the Caribbean come up wid so we could figure out how fi live different, how nuh fi be innah dis problem. Mi a wonda how mi nuh hear the name Plantation economy mention. Why nuhbody nuh seh Levitt, Best and Beckford and Girvan did right and dem still relevant today. How come we still a talk bout Haile Selassie teachings and Marcus Garvey teachings and not the teachings a di thinkers from the 70s innah the Caribbean?
Jamaica is poor because successive administrations outdo the other in redistributing ever dwindling state resources, economist Dr Damien King charged in a public lecture on Thursday. The politics of handouts, or pandering as King called it, will only make Jamaicans poorer, he said.
“What is the economic and fiscal consequence of a competition among politicians to redistribute? Well, its fiscal deficit,” said King, the head of the Department of Economics at UWI as well as co-executive director of think tank CaPRI.
“Redistribution is costly, JEEP is costly and there are many examples when the Jamaica Labour Party was in power,” he said, addressing some 60 students and staff at the Undercroft of the Mona campus, University of West Indies (UWI). His lecture was titled ‘Why we are Poor’.
The Jamaica Emergency Employment Programme (JEEP) is a short-term work programme initiated by the Simpson Miller administration this year. It formed a central plank of the governing People’s National Party platform for the December 2011 national elections.
The promise of employment would be financed in part by utilising resources from the then JLP administration’s major road rehabilitation project. But the JLP in criticising JEEP in April reportedly said that it, too, would have had its own short-term work programme.
“It really is a vicious cycle where inequality produces bad politics and bad politics maintains things unequal as they are,” King said, adding that breaking-out of the mould required stand-out leadership.
He was sceptical, however, that such a leader would emerge from within the current political culture.
“This is not a story,” he said of Jamaica, injecting what seemed to be a note of cynicism. “There does not have to be redemption in the end.”
King said that “pandering to the poor” addresses isolated needs rather than increase economic opportunity for Jamaicans. Pandering generally results in taxation for the middle and upper classes, he said.
King then philosophised that policies are most balanced in a stratified society in which the poor, middle-class and rich are equally divided into thirds. In such a theoretical society, policies solely affecting one group positively would be rejected by the other two groups.
However, in Jamaica the poor constitutes a larger portion of the electorate than the middle-class or rich and thus policies are geared towards the marginalised. Contrastingly, in the United States policies are geared towards growing the middle-class rather than redistribution, he said.
“We have a small middle class,” King said. “The word middle class dominates the electoral conversation in the US. In Jamaica, the word that dominates the electoral conversation is the poor — and not in a constructive way.”
The engineering of Jamaica’s “vast inequality” began during slavery in which a small elite violently ruled a large poor mass.
“Geography and economics implied that big sugar plantations [would] create vast inequality of wealth and power, requiring control of the masses by violent repression,” he said.
But that inequality was most stark in Jamaica when compared with other Anglophone Caribbean islands. Consequently following universal adult Suffrage in 1944, politicians needed to “pander” to this large poor class, he said.
“Before 1944 all you had to do is bash them in the head. After 1944, you had to get them to like you,” he said of Jamaican voters. “And that comes out in the politics today.”
Jamaica found economic growth in the first decade of its independence but faltered in the subsequent decades. King highlighted instances of pandering since the 1970s from both political parties.
“The country grew rapidly in the 60s. At the end of the 60s the PNP came to power on a platform of ‘Better Must Come’ because the rapid growth did not address the inequality. The JLP in the late 1970s campaigned as being the antidote to the ‘communist’ Michael Manely running the country. The JLP came to power in the 80s and did not change a single economic policy implemented by the PNP – they did not remove exchange controls; they did not open the economy,” he said.
“So, notwithstanding the rhetoric and the opportunism of the campaigns, we have a consistency throughout the different phases of our economic history or what we call the economic regimes. There is an underlined consistency of approaching the economy in only one way.” http://jamaica-gleaner.com/gleaner/20121125/business/business1.html
From we come bout yah pon dah island yah name Jamaica. A plantation slavery ting we a deal wid. look up di history.
“Land in the Caribbean islands was cheap, but the costs of setting up a sugar plantation were high. Sir Dalby Thomas in 1690 estimated that a 100 acre plantation on the island of Barbados, with 50 enslaved Africans, seven white indentured servants, sugar mill, boiling works, equipment and livestock would cost £5,625 (over £250,000 at today’s values). To recover these costs, the plantations had to produce enough good quality sugar to pay off debts and mortgages and cover the running costs each year. The owners also wanted a profit. Some families, such as the Pinneys of Nevis in the Caribbean and Bristol, were able to build up a fortune based on land, sugar producing and trading.”
A sugar we mek den we sell it to foreign. di british people full up the whole place and a so “economy” start. A so “economy” guh. Black People a slave and we have slave mastah. Indian People and Chiney people a workah tun shopkeepa and trada. Black people neva really own nothing nuh land nor nothing. dat was di “economy”. After dem gone and dem seh we independent we and the other people dem innah the world start fi try a ting, we start define we self, New world group, Non-aligned movement, Socialist, we a try understand and define we self, but America come stop everything. Dem see the world a go communist and dem caan afford dat and dem go innah every single country weh did a try do something different and mash it down. Everything weh deh below America name THE AMERICAS.
A Cuba one survive the fight. Mi born 1981, after Seaga come innah powah, a Jamaica after Micheal Manley. Mi born when everything dun. So from 1981 till now a di future a capitalism we a live. we a live the disappointment and failure of the socialist or alternative economic experiments. from then till now and that’s how the borrowing come in because we agenda different u see it . we a try mek it innah capitalist world like capitalist, like neo-leiberalist, a likkle island with 2. 5 million people weh give the world Plantation economy analysis. and u know why Christine come? She caan help we. But she naah tell we. dem nah tell we cause dem tek people fi idiot.
…. Christine Lagarde, the managing director of the International Monetary Fund (IMF), has revealed that Capitol Hill, the seat of political power in America, nudged her to sign off on a programme for Jamaica, and one year later she is proud of the progress being made.
The IMF boss, who is on a two-day working visit to Jamaica, said at a luncheon at The Jamaica Pegasus hotel in New Kingston, that she was very happy with the country’s performance under the Extended Fund Facility (EFF) and warned “don’t let electoral process get into the way” of the progress.
“I remember the 24th of December, 2012, the day before Christmas. We had been told about Jamaica. We have been told how difficult the situation was and I was in close contact with (Finance) Minister (Dr Peter) Phillips. But little did I know that there would be international pressure coming from the Hill. I actually welcomed that day, 24th December, a group of Congress women and one man who came unannounced, sat in my office and said to me ‘you have got to help Jamaica,’” said Lagarde.
June 28, 2014Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), made the following statement today in Kingston:
“It has been a pleasure to visit Jamaica, which is also my first official visit to the Caribbean. I have had the privilege to meet the Most Hon. Prime Minister Portia Miller-Simpson, Hon. Minister Peter Phillips and Bank of Jamaica Governor Brian Wynter. Our discussions focused on the economic policy priorities and the outlook for the country. I commended the Prime Minister and authorities for their commitment to reform Jamaica’s economy and lay the foundation for inclusive growth, job creation and a more prosperous future for Jamaicans
“The economic outlook is improving. Compared to a year ago, growth has picked up, unemployment has declined, inflation has been brought under control, the current account deficit has shown an ongoing improvement, and reserves are starting to recover. Debt-to- GDP has firmly been put on a downward trajectory. Key reforms were implemented, in particular, the tax incentive legislation and the fiscal rule. But there are other major reforms that are still pending, including improving the collection of taxes, modernizing the public sector, and improving the business climate, and a prudent fiscal stance needs to be sustained.
“I also had the opportunity to meet with representatives from the private sector, labor unions and opposition. I was impressed by the high degree of consensus and awareness on the need to reform Jamaica’s economy, manifest in the excellent work of the Economic Program Oversight Committee. This broad support for the reforms has been essential, and will need to be maintained to ensure continued progress and confidence build-up in the economy. Women leaders and I also discussed critical gender and economic challenges.
“Economic adjustment is painful in the short run. Many Jamaicans have experienced wage freezes, and are facing higher prices for food and other essentials. That is why the social safety net component of the program is so important. If Jamaica continues on the path of fundamental reform, the foundation for a better future will be put in place. We are deeply committed to working closely with Jamaica on achieving its economic goals.” https://www.imf.org/external/np/sec/pr/2014/pr14317.htm
“In 1972 george beckford wrote persistent poverty. underdevelopment in plantation economies of the third world. in Appendix II he said. “an understanding of how plantations are organized and what factors influence decision making is important background knowledge for analyzing resource use and development problems in plantation economy and society”
“Christine Lagard the IMF lady went everywhere important and had breakfast with all the important people in Jamaica. She neva stop at the stop light and ask the man and woman dem weh a beg and the yute dem weh a wipe the windshield and the people dem weh a sell banana how tings really a run innah Jamaica”
Yuh haffi always understand Jamaica History, world history, fi get weh a gwaan. We figure out nuff tings but we caan try dem because dem too political. dem too political fi “America”. Fi the “Americas”. dem mean revolution. Anybody who try anything different innah problem. Cuba and Venezuela show we.
When mi guh back and tink bout the whole plantation economy ting. is a real serious thing we have all a di philosophcal and intellectual idea dem right yah so fi free we, we have Rastafari, but we caan guh round the U.S like one time. We like Cuba but we nuh waan live like dem. We want fancy tings and fancy car when we want it. We waan earn nuff money cause we have education. We waan can guh foreign when we ready and tek picta a Disneyland.
Fi do Cuba innah Jamaica it a guh tek war and it a guh tek a certain kinda leadership and people a guh haffi lef Uptown. The ones dem wid nuff haffi guh flee. Mi nuh feel seh we can go deh so again. A nuh dat challenge we need fi present.
As problematic and oppressive as America is wid some a dem policies inside and outside. People innah America a mek alternatives fi dem life. Dem a Occupy Place and a do nuff oda tings innah dem community. Not only America but all ova di world people a try different options fi dem life dem a mek new tings. So why we nuh think this possible fi we? Why we tink seh the IMF nah guh kill we off like dem kill we off before and oda people why we trust fi dem direction now? Because we need di money? Because we desperate? Because we nuh have nuh choice? we always have a choice.
How dem manage fi convince we seh we fi stop try mek a life weh good fi everybody nuh just some? How come we figa seh we fi stop talk bout Plantation economics, even develop the idea furtha? Why we stop tink bout the option dem weh good fi everybody? Socialism is a idea, Social and economic justice is a idea. weh dem deh gone? Christine look pon Deon Jackson-Miller weh a interview har, straight innah the eye and tell har seh di dollar must can find it right value. Dat translaste to no value right yah know. Christine never come the Caribbean before and she neva read Persistent Poverty ( if she did read it she fi tell we) so she nuh really know how the economy dem outta yah work or nuh work historically. but a we fi tell har how it really guh.
Does the IMF or any international lending agency have a Plantation economy specialist? What would have happened if we were able to take the Plantation economy idea forward? Better economies?
” By the turn of the 1980s, the personal impact of some of the key actors had begun to wane as a result of their movement off the campus as well as a result of the resurgence of neo-classical economics throughout the world. Dissemination was now dependent on published material. Unfortunately very little of the work had been published other than Beckford (Persistent Poverty, 1972) Best (SES, 1967) and Best and Levitt(in Beckford 1975)”- Pantin and Mahabir
So me a think bout the whole ting and me a read and mi a seh den blow wow! a weh di people dem weh did a live innah the time when the Plantation Economics analysis did a gwaan and Micheal Manley did a talk bout Self-reliance. Weh di people from di 70s weh know a different ting deh? weh di hell dem deh? why dem nah seh noting? dem suh tired and lost? a suh mi find Norman Girvan. mi guh look pon him website fi see weh him did a seh cause him just dead di oda day and mi find one article,
An mi google Social Solidarity Economy an mi smile. Mi smile cause mi know mi know innah mi heart seh people neva stop search fi answas and ansas always deh deh. We caan fight the U.S like one time but we nuh need fi fight dem. We need fi serious bout social justice, equity, fairness, oneness and humanity a dat dem people yah from di Plantation economics school did a talk bout, a dat Rasta did a talk bout, a dat enslaved African did a talk bout, A dat all enslaved people did want, nuh fi be slave again. A dat oppressed people all ova di worl did a try find. a better way out. a dat dem did a defen.
Mi nuh tink we can deal wid certain change at the level a national government we political system and political leaders compromised and confused, dem nah try change yah now, dem a try mek sure dem nuh upset nobody. but is a tricky ting, cause mi nuh waan di government mek decisions weh a push we back like weh dem a do now. But if we nuh start mek some different tings and mek some alternative institutions/ space den dem nuh option but the IMF, knowing dem, dem might still guh to the IMF but we can mek it harder fi dem ignore we, we haffi do fi we self, wi haffi think fiwi self and help di people dem weh we elect fi see seh a nuh slave and slave master ting dis.
Right yah now innah Jamaica a business people have di most talk and business people very serious bout profit and the right environment fi mek profit. A nuh profit a guh mek jamaica better a nuh money, a equity, once and for all a equity, not equity fi mek profit but equity fi a better life and how u have a better life. U deal wid people better. Yuh nuh see people different from u and u care fi dem not because u get more people support u or buy u produce but because a all a we live yah.
Ask yuhself this. When u listen to Dion Jackson Miller or Cliff Hughes pon radio or read the Opinion page dem innah the newspaper why u nuh hear nuh badi a talk bout Geopolitical Economics, Community, Alternative currencies, Solidarity Economics, co-operatives, gift economy?
Persistent poverty: Underdevelopment in Plantation Economies of the Third World. George Beckford
Maroonage: Plantation Economy revisited Dennis Pantin and Dhanayshar Mahabir.