MCDONALD 4 (Related to inclass essays)
Aspects of industrialization. Dependency debt, and structural adjustment.
People are finding difficult of owning their own lands, to earn enough to buy stuff.
Dependency theory- global south, your position is literally being formed
Economy theory- Max, There is a relationship between development and dependency.
Finding that what u earn is not enough to import.
Remove a lot of taxes,
Metropolitan economy. (graph)
A crisis happening among the core. Exporting a value added products, their positions
Metropo- colony power.
Boxat- they don’t have the capital to produce that, exporting lower value goods.
Colonial system- terms are all in US value.
This type of interactions, no value added exporting. Within the Caribbean
New world groups there should be a change in Caribbean’s system
The group Try to set Caribbean meet the UN
NIEO- to be internationalized, they were hopping to make OPEC, have more
Eric Williams- Trinidad, he tries to develop new… 1980s, they were hopping to
take the revenue from the oil industry. The revenue is still gonna go back to
multinationals, but better.
Jamaica try democratic socialism, manufacture. The things produced locally are
different from imported things. Try pull away from importing. They will fix the
interests rate. Exchange rate is stable, trading will be easier. A lot of money is
putting into social infrastructure- health care, education. There is a shift in social
structure. Minimum wage is going on. Need inflows of cash to do all these.
1970s, increase market after WW2, borrowing money with low interests. To
insure that there is a big pay. Cold war- political tension. American’s back yard,
those countries are moving towards communism. Worried about the money will
be taken away. The president of Jamaica- Democratical interests.
Producing Bauxite. All companies in Jamaica. It is soft soil in Jamaica. It is easy
to take out especially to Rural people. 60% bauxite to US. Provide 200 million
to JA in 1974. The money used to other production. Debate: A lot of that money
into politics, maintain power. 1970s, a lot of money is earned but not going to the
wrong person. Import more from other countries (say Australia rather than JA).
It moves to multinational. All the money borrowed to develop. Oil crisis,
America decrease impor