LABOUR IN JAMAICA
What are the options to survive - how are people making a living
How is this changing based on international monetary policies
May be tested on ideas arising from the film - note what there lives look like
LIFE and DEBT
IMF says there will be no future for the rich if there is no future for the poor
IMF made dollar worthless 1944 war coming to an End but didn't want want to be in the mess of the Ned of the 30's.
Purpose was to have a bank they could turn to for short term borrowing.
To provide capital for the rebuilding of Europe
Wanted to be free from Britain but they are worse off than when they were ruled by the British because they didn't have the economic strength to make it on their own.
1973 oil prices caused problems - first they go to the world private bank to get a loan and if they don't lend, you need to cut back on spending. That is when you go to the IMF
This a country beginning to unravel because it cannot survive - IMF says we understand the problem you're in but we need to fix out the underlying reasons. IMF says long term development is your problem - we only lend short term with huge restrictions and huge interest rates.
No new hospitals in many years
When you fail to meet the responsibilities, the IMF makes tighter restrictions
Devalue the currency to make their dollar cheaper to expand their exports.0 when they devalue
Debt is rising but the capacity to export is getting less.
They work in hospitality - Everything you eat came off a boat from Miami
Unloading food from trucks, bus drivers, concierge, servers,
Farmers but boats come from America selling cheaper than they can produce.
Picking onions, everybody was involved now it is just a trickle.
When it's ready for harvesting, they see the imports from America because it's cheaper.
IMF if you want the money bad enough you have to agree to their terms
IMF believes that small countries will be better...