In the early 1950s and 1960s, the first phase was the modernization paradigm where the theoretical insights underpinning this strategy was associated with the work of W. Arthur Lewis. Lewis focused on industrialisation and economic diversification as a mean of overcoming the traditional Caribbean problem of dependency or “dependency syndrome” on agriculture; this creating expectation that other economic benefits will follow (Karagiannis, Sir Arthur Lewis ..................). The essence of this strategy was based on ‘industrialization by invitation’ whereby it aimed to combined the labour surplus in the region with large foreign capital investments to create industries that will serve both regional and foreign markets. Despite the small size …show more content…
However, Caribbean countries were still heavily reliant on foreign investments and imports hence creating inflation and repatriation of profits. The industrialisation and economic growth did not provide employment opportunities or repatriated profits from foreign-owned industries. This lead to social dysfunctions in the society such as high unemployment and underemployment as the region was still dependent on the foreign base for sustainable growth and …show more content…
The consequences of this movement contributed to the development and not necessarily to greater efficiency within the Caribbean. This form of regional integration enabled Caribbean nations to better integrate into competing markets and strategically address the structural balance of payment current account deficits. It addressed the limitations of being small size and having limited economies of
In all, the smuggling of raw materials, products, and slaves to and from the Caribbean islands assisted the economy in the islands but harmed the maternal countries such as the British. This issue was met with mixed views, and even some people such as John Orde had two different opinions on occurrences of the action. One additional document that would be of assistance in analyzing the causes and opinions of the smuggling would be an account of a native Caribbean merchant, because it would give a middle class account of the event of whom it actually affected.
Today I bring to your forefront of thought, the island of Hispaniola. This island is the namesake for the two countries who run the land, the Dominican Republic and Haiti. Both nations hail from a joint introduction into the world market and post-European colonization, but as time progressed, each one had a different outlook to the world stage. The present day Dominican Republic and Haiti are worlds apart on an island which keeps them together. Their culture is separated by the colonial residuals that lay imbedded into their communities. They are on different sides of the spectrum of structural growth due to the resulting outcomes from decades of political ruling and policy making. On one side we have the second independent state of the Americas,
... the ingredients that matter, price of labor and rent is different between both countries, and even if you can import all the goods, unless you’re fortunate to have a Mac Donald’s franchise, unlike Trinidad and Tobago’s neighboring Caribbean islands, you are unable to make a comparison in the real and nominal foreign exchange rates using this index.
The Europeans came to the East Indies and took over the land and the resources; this was wrong because it was unreasonable to use the wealth of the East Indies to purchase slaves. It was also wrong to enslave women and children.
The main products that drive the economy of Latin American in the nineteenth century require products and resources that are easily available to the countries of the area. For Argentina, the country focuses on exporting temperate agricultural products (Furtado 131). The workers needed in the fields, and vast amount of land to grow crops is plentiful. The land is already available, but to become more equipped to excel in agriculture, the country needs an influx of able- bodied workers.
Similarly, we can look at the colonization of Latin America as a "business." Each country is like a global conglomerate, looking to make their "company" as wealthy as possible. This wealth and power was obtained through the exploitation of the people. For instance, if Spain decided to be legitimate in relation to the indigenous people, another country such as Portugal would end up being more powerful through power and control. In the same way, if a company decided to "play by the book", they would know another company would eventually be more powerful and wealthier than them in the future due to exploitation. A kind of "If we don't do it, they will" mindset. In a sense, the desire for power over other countries leads to the exploitation of the indigenous people either way. Stern explains that free labor was used to gain power and money. "Free labor, cut off from access to the means of production, has no al...
The earliest form of resistance against the contradictions inherent in the nature of the societies created by enslavement and indentured servitude can be seen long before the Haitian Revolution. There were many documented attempts against the lives of the white slave owners, but known was so critical as the events that mark the Haitian Revolution. The Haitian Revolution, which took place in the end of the 1700’s, was a defining moment that sought to end France’s control of the Island of Saint Dominique or modern day Haiti. This resistance began as an attempt to gain retribution for the hostile and inhuman conditions that the slaves were subjected to. According to C. L. R., the contradictions inherent in the nature of the societies created by enslavement, indenture and colonialism in the Caribbean created the very responses to an insurrection, by those who were being subjected to cruel and unjust
Unfortunately for the tourism industry of the Caribbean, most of it is controlled by companies located in other countries. With most of the profits going to foreign-owned investments, it leaves the country without control over its very own economy. It is unfair to the Caribbean economy because it leaves the country in the same state it was in during its formal colonization. Even though colonization in the Caribbean is formally over, I believe, in essence it still exists there.
It has been argued that the sugar revolution has affected the Caribbean drastically as a result of the sugar revolution; economically there was a labour problem which was caused by the change from Tobacco to Sugar. “The manufacturing of Sugar cultivation was much needed for some workers to practice manual labour.” (Galen son, 1989: 112). There were people who tried to get workers like the Spaniards who tried to get the Arawak to w...
The documentary Life and Debt portrays a true example of the impact economic globalization can have on a developing country. When most Americans think about Jamaica, we think about the beautiful beaches, warm weather, and friendly people that make it a fabulous vacation spot. This movie shows the place in a different light, by showing a pressuring problem of debt. The everyday survival of many Jamaicans is based on the economic decisions of the United States and other powerful foreign countries.
History is a study of cause and effect. The French monarchy’s mismanagement of money caused famine that led to the French Revolution, China’s objection to British’s sales of opium caused the Opium War, and the superior technology of the Europeans caused imperialism of less advanced nations. Similarly, it can be seen throughout history that the development of industry in societies is the effect of a recurring set of causes. The 19th century Industrial Revolution initiated this movement in Europe and America, but some third world countries are only now undergoing this process. The Payatas, a Philippine dumpsite, clearly showcases the attributes of industrial development in the impacts it has both on the local citizens and on their society as a whole.
Modernization is defined as the conversion from the former civilizations in society to contemporary society; as it is establish today in the West. It models a perspective of economic, social, and cultural progress that enlightens the global disparity in terms of modifying levels of scientific improvement between societies. By presenting modern approaches in underdeveloped countries, societies will be knowledgeable of solidifications in their economies. This dominant theory refers to a variety of believers of Karl Marx’s perspectives that encourage the explanation of improvement or underdevelopment of countries. Everyone isn’t a fan of Karl Marx’s perspective. The mutual features between Max Weber and Emile Durkheim also interpret the developmental illustration of this theory. Development implies the bridging of these gaps by an imitative process, occurring in stages, such that traditional sectors and/or countries gradually assume the qualities of the 'modern' western. Max Weber observed that with modern civilization the societies would only profit from rationality. The title of Durkheim’s book, Division of Labor in Society, basically summarizes how he views modernization. Durkheim’s believes that with modernization will be the creation of a growing division of labor. He expects the flop of modern social unions in modernization might lead to anomie. Elevation in anomie will eventually cause a growth in crime rates. The theory is in fact a unilinear, ethnocentric theory and it is with all its shortcomings which one can conclude that it provides an unworkable guide to Caribbean development.
When one thinks of Barbados, one thinks of luscious, turquoise blue waters; soft white sand beaches; blue, white clouded skies; fresh fruits; exotic, delicious dishes and honeymoons. One, however, tends to forget the formation of this land. This Caribbean luxury Island has much history and great heritage. In this report, I will detail Barbados’s location, history, labor relations, population size and structure, industries, plus add a little zest with the beauty of the Island.
The reason why tourism looks attractive (and thus turns a blind eye) to these Caribbean countries is because of “its potential to foster GDP growth, to create employment, to increase foreign exchange earnings, and attract capital investment” (Daye, Chambers, and Roberts 2).... ... middle of paper ... ... Fletcher does make it a point to show that tourism is not “necessarily the handmaiden of capitalism expansion, merely that the industry as a whole plays an instrumental role in this respect” (447).
Modernization theory is an unworkable guide for facilitating Caribbean growth because of the many weaknesses, which have been highlighted. The modernization theory although is without a doubt one of he most influential theory, is in fact an unworkable guide to Caribbean development as it simply describes the development process without showing how it might be achieved. The theory is in fact a unilinear, ethnocentric theory and it is with all it's shortcomings which one can conclude that it provides an unworkable guide to Caribbean development.