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Lecture 4

LABRST 1C03 Lecture 4: week 4; managing flexible workers; PART 1

Labour Studies
Course Code
Katherine Nastovski

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Managing flexible workers; part one
Film: “Life and debt”
- Jamaica had national issue causing civil unrest
- Video shows how tourists will see a one part of Jamaica that is beautiful, clear waters,
luxurious resorts and get so much more in exchange for their dollars
- Purpose of IMF was to have a bank that countries could turn for small loans and capital
for rebuilding
- Jamaica became independent in 1962 but didn’t have economic strength to make it on
their own. First try to go to private banking system, when they don’t lend to you have to
try to cut back spending and then turn to IMF. IMF told them long-term development is
their problem and will only lend them money for short-term with high interest, and
restrictions on how they can spend the money. When you can’t repay, have to
renegotiate new terms with more restrictions like cutting down money on education
and social services so they can repay the IMF.
- Debt rises and capacity to export or produce goes down
- Jamaica doesn’t have a proper system to dispose of sewer water so they dispose of it in
ocean. Most of food ate on resorts come from Miami, it’s not local grown since it’s
cheaper to bring goods from America than to produce it there. Jamaica is small country
and could not thrive by producing on their own and so needed to allow trade with lower
tariffs but that takes away work and money from local production
- Contract where Jamaica got $50 million US but they had to abandon control of imports
and had to purchase powder milk from U.S. but eventually powder milk replaced
production of fresh milk so producers of natural milk went out of business.
- Large U.S companies who produce bananas want all of the market so they try to shut
down the Jamaican producers of bananas so that they can’t compete
- Some natives can’t escape to another place in the world and experience that so when
they see tourists, they envy because you have found a place to enjoy where they don’t
even have proper living conditions
- They got people from china to come work and were paying them U.S. dollars but paying
Jamaicans in Jamaican dollars so it didn’t help the unemployment situation there
- Prior to colonization they were producing their own products but after locals were bring
forced off their lands because of new IMF policy and restrictions and large multinational
companies would come in and eliminate local businesses
- Subsidies and large agricultural businesses and high interest rates of 23% were making it
impossible to take loans for local farmers. Garbage collection, tourism, scavenging,
formal doctors were jobs that replaced local production. There was huge
- This is something that occurs in so many other developing countries where IMF policies
and restrictions have been imposed on them that takes everything that was natural to
them and have large north American companies to replace them
- Policies are in interest of large multinational companies like Chiquita (bananas)
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