Answer my questions - Movie Review Example

What are the effects of trade liberalization in Jamaica (e.g. discuss the effects of Jamaica’s free trade zones or the effects of the WTO on banana exports)? What was the effect of the IMF policies on domestic food production? In any country, the economy depends on the policies of its government. The public and private sector businesses are the main employment generation mechanisms in an economy. Market plays a key role in determining the unemployment rates of a country. If unemployment rates are low, spending power of the people increases and the market flourishes.

However, if there is too much pressure on the government to generate employment in the public sector, the market becomes volatile and the risks of a sudden but complete stagnancy increase, as we have witnessed in the erstwhile USSR during the late 1980s. Liberalization is a process that would help an economy to overcome the risks of economic stagnancy mainly by the means of market reforms and privatization. However, the process of liberalization itself has come under scrutiny and criticism on several occasions.

The episode of Life and Debt is based on such a critical perspective regarding liberalization in the backdrop of troubled Jamaican economy. The process of liberalization in Jamaica practically began when the country signed a loan agreement with IMF in 1977. The process of acquiring debts began and more debts were taken to pay off the interests incurred in this course. Gradually, Jamaica had to liberalize its markets and industries under pressure from the lending agencies like IMF, IADB (Inter-American Development Bank), and the World Bank.

The projected goals of increasing per capita income, literacy rate, employment, etc. in the country could not be achieved. The development that was promised by these loans did not take place as expected. But the economic pressure of a government almost running on debts began to affect the lives of the people negatively. In reality, the