1 / 8

Notes on Life and Debt

Notes on Life and Debt.

adamdaniel
Download Presentation

Notes on Life and Debt

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Notes on Life and Debt • This film is a beautiful, lush and powerful documentary, but it has to be approached critically. In my view, the strength of the documentary is in setting the viewer on a path to wanting to know more. The outcome of a search for better truths about poverty in Jamaica will take the viewer far away from the documentary Class notes: Michael Kevane, Dept. of Economics, Santa Clara University,mkevane@scu.edu

  2. The (implicit) argument of the documentary • Jamaica was relatively self-sufficient after independence, and had a thriving small farm sector • Agreements with international financial institutions ‘forced’ the country to open up its markets to imports from the U.S. • These imports- of potatoes and onion and powdered milk destroyed local farming • What’s worse, prices will go back up once domestic industry is ‘destroyed’ Class notes: Michael Kevane, Dept. of Economics, Santa Clara University,mkevane@scu.edu

  3. The argument (continued) • Moreover, the IMF lent money at high interest rates, and demanded that the government lend to farmers at high interest rates instead of the previous low interest rates. • The United States destroyed the Jamaican banana industry by insisting that bananas from Central America enter the European market on the same terms as Caribbean and African bananas Class notes: Michael Kevane, Dept. of Economics, Santa Clara University,mkevane@scu.edu

  4. The argument (continued) • The government received a large loan for a free-trade zone, that is now empty • In this free trade zone, government regulations were completely absent (contradicted in very next scene showing woman complaining about high taxes on her paycheck) • Government does not respect right to organize • NAFTA hurts Jamaica, since low wage jobs are ‘taken’ to Mexico Class notes: Michael Kevane, Dept. of Economics, Santa Clara University,mkevane@scu.edu

  5. Questions raised…. • Is Jamaica getting poorer because of IMF programs? • Are Jamaica’s poor getting poorer because of IMF programs? • Did Jamaica not have any adjustment plan for farmers following liberalization? • Did consumers benefit from liberalization? • Are prices rising after liberalization? Class notes: Michael Kevane, Dept. of Economics, Santa Clara University,mkevane@scu.edu

  6. Questions not raised... • Role of drug trade and marijuana production in escalating violence on the island • Role of Jamaican migrants to the U.S. and remittance income • Policies and corruption of Jamaican governments • Tourism industry expansion, wages, and ownership, and policy regarding tourism (esp. environment) Class notes: Michael Kevane, Dept. of Economics, Santa Clara University,mkevane@scu.edu

  7. Class notes: Michael Kevane, Dept. of Economics, Santa Clara University,mkevane@scu.edu

  8. Class notes: Michael Kevane, Dept. of Economics, Santa Clara University,mkevane@scu.edu

More Related